What you need to know about PSD2 requirements
PSD2 paves the way for open banking and offers new opportunities to both established and young financial service providers. At the same time, new challenges are emerging, especially with regard to security. Banks are obliged to grant external providers access to their customers' data. They must therefore invest in APIs that enable such access.
Benefits of our solutions for PSD2 compliance
- Protection of customer data and compliance with PSD2.
- Effective protection of application programming interfaces.
- Implementation of powerful mechanisms for customer data security and authentication.
Cybersecurity solutions to comply with the Second Payment Services Directive
To protect customer data, APIs need security . To this end, PSD2 provides for new technical regulatory standards (RTS). To help our customers become PSD2 compliant, we provide web application firewalls, tailored to the new regulatory requirements.
The PSD2 Directive revolutionizes banking services. Banks throughout the European Union have to pass on their customers' data to external financial service providers if customers allowed them doing so. The PSD2 thus leads to more competition in online financial services and paves the way for Open Banking. The latter is a system that gives users more freedom to choose services. Customer data must be available in a secure and reliable manner by application programming interfaces (APIs). Rohde & Schwarz Cybersecurity offers intelligent solutions that protect your customers' APIs from cyber attacks on personal data and vulnerable online services.
"The opportunities for open banking and new financial service providers are now possible with the PSD2 directive – but what about security when banks are obliged to give third parties access to customer data? Rohde & Schwarz Cybersecurity offers solutions to meet the regulatory requirements. These solutions protect application programming interfaces (API), secure customer data and ensure compliance with PSD2."
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