Digital identity ready to revolutionize the banking world

It was important to make good resolutions in the digital banking world. Indeed, faced with numerous frauds, theft of bank data, or with identity theft, it was time to take important measures. To reassure their customers, banks now take security as a central element.

What will future banks do for security?

In recent years, the banking world has undergone many changes. Whether for example by the dematerialization of services with online banking, this digital revolution is attracting more and more people with bad intentions.

More and more French people appreciate this dematerialization and banks must all adapt to these new technologies. So comes the security aspect to offer more serenity to the customer in his use of online banking services. This is where digital identity comes in, in order to regulate data security.

Guarantee the security of digital identity

The eIDAS regulations have been developed to guarantee ever more security in online identifications. It guarantees an identification having the same value as a handwritten signature on paper.

The main objective is to guarantee everyone security for all dematerialized exchanges in Europe. The eIDAS standard makes it possible to regulate the identification and signatures of a person as well as the timestamp of the process.

eIDAS and DSP2 to guarantee optimal security of the digital identity

These security steps come as fraud and identity theft have been on the rise in recent years. It is on this observation that the DSP2 security came into force at the beginning of 2018. This security during an online transaction requires a double or a triple authentication. So to connect or validate a transaction, you must:

  • Enter a password, a code that only the customer knows.
  • Use a mobile device or smart card with a second one-time password.
  • Use a means of physical recognition that is unique and linked to the person such as voice recognition, fingerprint or facial recognition.

The accumulation of these authentication techniques makes it possible to ensure the identification procedure by doubling or tripling the means of verifying identity. These new rules are imposed at European level, in order to guarantee an optimal level of security when connecting to online services for banks.

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