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Wholesale Banking

Strong Customer Authentication (PSD2)

Through InsideBusiness, we offer you secure internet banking since it complies with the requirements for Strong Customer Authentication (SCA). Read more about these European guidelines and how we meet those with InsideBusiness.

Requirements for Strong Customer Authentication

In 2017 the European Banking Authority introduced a revised Payment Service Directive, also called PSD2. These regulatory technical standards (RTS) specify the requirements for Strong Customer Authentication (SCA). These requirements were introduced to protect confidentiality and integrity of all transactions between clients and financial institutions.

for all payment service users' interaction with a financial institution.

The RTS contains, in short, the following requirements

  • Authentication requirements (are you who you say you are)
  • Application of strong customer authentication
  • Confidentiality and integrity of credentials
  • Secure communications

InsideBusiness complies with these requirements and offers secure internet banking. We explain two aspects of these requirements we use in InsideBusiness below.

Multi-factor authentication
Our InsideBusiness access means have always been multi-factor authentication means. This means you always need two factors to log on to InsideBusiness. The three factors of authentication are: something you know (password / pin), something you have (mobile app / card and reader) and something you are (fingerprint / iris scan).

The use of a combination of 2 or more factors for authentication is called multi-factor authentication. In other words: you cannot access sensitive or payment data without one of the two factors. This is considered strong authentication.

Examples of multi-factor authentication means are:

  • mToken: the personalized app and its private keys or fingerprint
  • Card and reader: with card and PIN code

Limiting access
After logging in with multi-factor authentication, you have access to sensitive data and can (with the right permissions) do payments. To prevent others from accessing InsideBusiness when you step away from your computer or phone, you will automatically log out out after 5 minutes of inactivity. You will need to log on again to continue.

 

Find out more