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PSD2 as an opportunity
Legacy enablement with modern authentication and authorization methods
PSD2 gives bank customers more ways to bank
Acclaimed PSD2 compliance implementation
Increased security, choice and convenience
Less time invested in activities that don’t add value
Challenge
Challenge
Legacy enablement with modern authentication and authorization methods
- This German banking giant needed to incorporate PSD2 compliance into its online banking service, specifically: two-factor (2FA) authentication for login and enabling access to payments and account information via third-party providers.
- New authentication methods did not fit well with the legacy platform.
- Increased demand for authentication and authorization combined with the retirement of the existing method would increase stress on hard-to-scale on-premises systems.
Engagement
Engagement
Multiphase delivery of PSD2 requirements, monitoring load, performance and reliability of all back-end systems
- Advanced delivery with opt-in 2FA for login allowed gradual scaling of the load on back-end systems. Data gathered confirmed that back-end systems would not withstand the full load of live running with 2FA.
- GFT offered “comfort login” as an alternative. This gave users the choice of 2FA or comfort login, which offloaded the authorization systems while fulfilling PSD2 needs.
- A fully decoupled authorization front end was developed with React technology to ease integration of modern authorization schemes as required by third party providers (TPPs).
- Central dashboard gives holistic view of TPP interaction to improve control.
- Project developed using agile methods and delivered by an international team in four locations.
Benefit
Benefit
High customer and end-user satisfaction
- All PSD2 requirements met on time and within budget.
- Solution increases customer convenience and offers choice of ways to log in securely and comfortably.
- System loads were fully optimized to drive down costs.
- The bank was celebrated in the media as the best implementation of the PSD2 directive.
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Explore how PSD2 presents opportunities for innovation and growth within the financial sector. This image of the European Union flag in front of a modern office building represents the regulatory shift and its impact on fostering open banking and improved customer experiences. Success story
PSD2 as an opportunity
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