Boston-based InAuth has enhanced its two-factor authentication solution to help clients address PSD2.
The InAuthenticate solution now includes malware, root and jailbreak detection and geolocation analysis with encrypted secure messaging. The new features will help businesses prepare for Payment Services Directive 2 (PSD2) compliance in the European Union as well as other scenarios that require a secure, second factor of authentication with a seamless customer experience according to the business.
Under PSD2’s Regulatory Technical Standards (RTS), account and payment service providers must comply with increased security requirements including using Strong Customer Authentication (SCA). This requires that users be authenticated using at least two separate authentication factors.
Leveraging InPermID, InAuthenticate messages are encrypted end-to-end, digitally signed, and protected against repeated attacks.
InPermID allows the mobile device to act as a trusted second factor of authentication, satisfying the ownership or “something you have” element of authentication for PSD2 and multifactor authentication. Only a registered device associated with an InPermID can receive InAuthenticate messages, allowing for secure, contextual messages.
The authentication solution also satisfies other security requirements of PSD2 by providing device risk analysis, malware detection, anti-tamper protection, and cloak root and hidden jailbreak detection.
“InAuthenticate will help clients address the Strong Customer Authentication requirements for PSD2 while mitigating against security threats,” said Lisa Stanton, President, InAuth. “Our ability to utilize the device as a second factor of authentication and securely push contextual authentication messages to registered, trusted devices allows account and payment service providers to meet many of the requirements of PSD2.”
InAuth delivers the advanced device identification, risk detection, and analysis capabilities to help organisations limit risk, remove friction, and reduce fraud within their digital channels. To date, the company has raised more than $30m in funding from Commerce Ventures, Bain Capital Ventures, and Three Tree Ventures.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
