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November 24, 2017

Bank of Cyprus taps VASCO for PSD2 compliance

Bank of Cyprus has integrated DIGIPASS for Apps from technology provider VASCO Data Security International to meet European Banking Authority’s Payment Services Directive (PSD2) requirements.

DIGIPASS for Apps integrates application security, biometric authentication, risk analysis into mobile applications.

The vendor said that the solution, along with Virtual DIGIPASS that offers a transaction specific one-time password, allows the bank to comply with PSD2 norms for customer authentication and transaction signatures.

Apart from meeting PSD2 rules, DIGIPASS for Apps also helps the bank integrate push notifications, TouchID and CRONTO QR codes to facilitate secure mobile banking, VASCO added.

Bank of Cyprus director of consumer and SME banking Charis Pouangare said: “With VASCO’s help, we are able to take steps toward meeting the EBA requirements while at the same time enhancing the security and improving the online and mobile banking experience for our customers.

“By partnering with banking industry leader VASCO and integrating their solutions, we brought in the best security to help our customers feel confident their banking applications are protected.”

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