Digital security 2022: Strong Customer Authentication

Published by Benjamin Elveng on

Happy 2022, are you ready to protect your company against the old and new cyber threats lurking out there on the world wide web? To obtain digital security in 2022, we want to share our view on what’s important and the buzzword “Strong Customer Authentication” comes to mind. We are all about securing online stores, banks, and other digital platforms, where money, personal data or other valuable data is involved. Because we only want to share that information with those who own that data or money, and not someone who is trying to destroy, obtain or steal it. How do we protect it, and how should you protect and maximize your digital security in 2022, yep, you guessed it = Strong Customer Authentication.

What is Strong Customer Authentication?

During the next couple of years, many more industries will adapt regulations like we already see in banking. Strong Customer Authentication (SCA) is a cornerstone in the EU bank regulation for online banking and the new Payment Service Directive (PSD2). SCA is the standards and regulations, which make sure transactions are secure and give you an optimized user experience.

We all use login and passwords when we access personal accounts regardless of if it’s a streaming service, your bank, or your favorite online store – to access your data, there’s verification required, and this is authentication. But seeing as passwords are leaked, stolen, and taken advantage of, this is no longer the safety net, and stronger authentication measures are required. 

Strong Customer Authentication is adding other layers to the existing authentication – like two-factor authentication/multi-factor authentication. These are used to protect the users, and in return this also protects the provider of the service, but there’s a hook, because you are securing your customers/users, but they are constantly needing their phone to verify their identity, and this is a hassle and can lead to irritation and cart abandonment when it comes to online stores. There are too many passwords, and authentication processes now. What if we could take this process away from the user and instead secure the platform. Giving the platform the ability to verify the user, without interfering with the user experience.

ReTrust is an enabler of Strong Customer Authentication combined with a frictionless user experience

ReTrust helps your business eliminate annoying authentication processes by using passive behavioral biometrics and AI to recognize patterns in your real/trusted users. Connecting this data to technical data geo-location and the devices you normally use, ReTrust is the doorman to your platform. Letting everyone trusted in, and if e.g., if a users’ password has been stolen and a fraudster is trying to exploit it, ReTrust will detect the inconsistency in the pattern, and make sure the fraudster is not allowed access to the money or personal data you are protecting for your customers. All this is done in real-time, and don’t worry, with 60 billion sessions a month, ReTrust can tell the difference. Want to know more? Reach out to us today and see how ReTrust will protect your business, customers, and your future. 

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