PSD2 security standards – SIA and INFORM launch a new digital service to speed-up the authentication process for online payments

12 noiembrie 2020

SIA, a leading European hi-tech company in the payment services and infrastructures sector, controlled by CDP Equity, launches a new digital service for banks, payment service providers and other financial institutions across Europe to allow their customers to speed-up the authentication process for online payments, in line with PSD2 security standards. The initiative is powered by RiskShield, an advanced risk-evaluation system developed by the German company, INFORM.
„Thanks to the technological partnership, SIA and INFORM are providing a fraud fighting infrastructure capable of analyzing risks in real time for every payment transaction through a state-of-the-art scoring engine,” according to the press release.

Leveraging on INFORM’s RiskShield Risk-Based Authentication application, „SIA is now able to offer a step-up verification service for suspicious e-commerce transactions, allowing frictionless payments for low-risk activity as online purchases continue to increase with the COVID-19 pandemic,” the company said.
The SIA and INFORM initiative aims to protect consumers from fraud when buying online and represents a step forward to comply with the new Payment Service Directive (PSD2) mandatory requirements by the end of 2020.
Joining forces with INFORM, we help our customers to speed up the adoption of Strong Customer Authentication for safer online purchases. We integrated in our infrastructures an advanced solution to be rapidly implemented and to quickly ensure PSD2 compliance. Furthermore, consumers benefit from the real-time transaction risk analysis with fast and frictionless online shopping, leading to a simple and secure user experience” commented Gabriele Boni, Global Service Line Cards Director at SIA.
Our ability to provide RBA to both issuers and acquirers has given us a unique position on the market” claims Roy Prayikulam, Senior Vice President Risk & Fraud at INFORM. “INFORM’s multi-channel approach to fighting fraud, together with SIA, has proven to be successful and we look forward to helping more financial institutions meet the PSD2 compliance regulations. I am certain this partnership will continue to flourish and look forward to many more joint projects” continued Prayikulam.

The launch of this new service for the European financial community further strengthens the relationship between SIA and INFORM started in 2015 and involving different application areas such as transaction monitoring, card fraud prevention and detection, watchlist screening, and application scoring.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?