Since January 2018 a new European directive PSD2 (Payment Services Directive 2) has come into force. The directive brought many changes such as new regulations of provision of services by fintech companies and increased security and protection. The aim of the directive was to harmonize the market for electronic payments within the European Union while also making it more transparent and more effective. With the arrival of the PSD2 directive all payment service providers offering services in the EU were required to transform their software solutions and services to be compliant with the new directive.
We have joined the internal development team of one of the biggest banks that provides services in Czech Republic and Slovakia to help them with the PSD2 implementation. We were tasked with the modification of their electronic banking application to ensure it is compliant with PSD2 standard.
Digging deeper
- Modification of internet banking application to be compliant with the PSD2 RTS
- Development new functionalities on both backend and frontend
- Adjustment of existing functionalities to meet new security standards across the entire application
Technologies
Use Cases
Banking from home
Overview of finances, payment transactions and online purchases all in one place
Overview of finances, payment transactions and online purchases all in one place
Secured banking
Generation of one-time tokens for secure logins and electronic signatures
Generation of one-time tokens for secure logins and electronic signatures
Biometrics
Support for authentication using biometrics such as face recognition and fingerprints
Support for authentication using biometrics such as face recognition and fingerprints
