BANKINGCLUB-Online-Forum
Using PSD2-Compliant QWACs for better Transparency, Accountability, and Authentication
22.05.2019
The goal of the webinar is to present how banks should approach the new law governing transactions in the EU – Revised Payment Services Directive (PSD2). It will introduce PSD2-compliant Qualified Website Authentication Certificate (QWACs) that are meant to bring greater transparency, accountability, and authentication to users in the EU marketplace.
The impending need for PSD2-compliant SSL Certificates stems from the PSD2 open banking initiative that will impact banking customers within the European Union (EU) when it takes effect on September 14, 2019 enabling consumers to get access to account aggregation, or Account Information Service Providers (AISPs) enables open data interchange between financial services organizations. As of January 2018, European banks must provide access to customer information ex: account balances and details to AISPs. Banks must also expose customer information and payments services to Payment Service Providers (PSPs). QWACs will be required to secure the open APIs used for transferring private data between a financial institution and a third-party service provider used when making a payment or transferring money.
Agenda:
The webinar will be hosted by Chris Bailey – VP Strategy & Business Development, ECS, Entrust Datacard
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