Transakt Judged PSD2 Compliant for Strong Customer Authentication
Entersekt , a leader in next-generation digital banking security, today announced that its mobile app security and authentication product Transakt has been endorsed by a key European consultancy as a “state of the art solution” to the European Banking Authority’s Regulatory Technical Standards (RTS) on strong customer authentication under PSD2. These specifications define the enhanced security measures that payment service providers in Europe must put in place by September 2019.
Headquartered in Bonn, Germany, SRC Security Research & Consulting provides financial services providers with independent research and development services in information technology and security, with a special focus on secure payment systems. SRC’s highly regarded security evaluation facility assessed Transakt software development kits for iOS and Android over several months.
In a 36-page report, SRC concluded that Transakt met all relevant requirements set out in the RTS. It went on to state that, “Transakt makes use of industry wide accepted best practices in its design and use of technology, especially in cryptographically securing and authenticating its credentials and its client-server communication. Therefore Transakt can be considered a state of the art solution.”
In a group statement, SRC’s experts said, “After rigorously examining the latest version of Transakt from Entersekt, it is our independent opinion is that it fulfils all requirements of the EBA RTS that are in scope of the product.”
“With now only 18 months left to comply, Europe’s financial institutions are urgently searching for a PSD2-compliant strong customer authentication solution that impacts consumers’ digital interactions as little as possible,” said Jonathan Knoll , country manager for central Europe at Entersekt. “We now have more independent verification that Entersekt can provide a compliant solution that combines mobile-enabled convenience coupled with superior security.”
SRC’s full report, which contains confidential information, will not be released publicly. A summary is available on Entersekt’s website.
In May 2017, a similar study by the Payments Advisory Group – an Amsterdam-based consultancy – also concluded that Entersekt’s technology complied with all relevant sections of the EBA’s RTS.
Entersekt is an innovator of mobile-first fintech solutions. Financial services providers and other enterprises rely on its patented mobile identity system to provide both security and the best in convenient new digital experiences to their customers, irrespective of the service channel. For more information, visit www.entersekt.com .
Jeanne Maartens, SVP Marketing
+27 21 815 2800
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NJ-CELGENE19.7.2019 20:01:04 CEST | Press release
FDA Approves OTEZLA® (apremilast) for the Treatment of Oral Ulcers Associated with Behçet’s Disease
JANSSEN19.7.2019 15:07:11 CEST | Press release
Abiraterone Acetate Included in World Health Organisation’s Essential Medicines List for the Treatment of Metastatic Castration-Resistant Prostate Cancer
CA-GILEAD-SCIENCES19.7.2019 14:32:09 CEST | Press release
Gilead Sciences Licenses Respiratory and Herpes Antiviral Research Programs From Novartis
SCHLUMBERGER-LIMITED19.7.2019 13:02:04 CEST | Press release
Schlumberger Announces Second-Quarter 2019 Results
TX-SCHLUMBERGER-LIMITED19.7.2019 12:48:04 CEST | Press release
Schlumberger Appoints Olivier Le Peuch as CEO
WA-FLUKE-CORPORATION19.7.2019 12:02:10 CEST | Press release
Fluke Corporation Acquires Industrial Reliability Leader PRÜFTECHNIK
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom