cyan AG enters into partnership with AliasLab S.p.A. for joint solutions to meet the increased security standards of Payment Service Directive 2 (PSD2)
cyan AG and AliasLab S.p.A. will jointly offer a security solution in the growing market for authentication systems in online banking and payment systems. To this end, cyan and AliasLab are expanding the existing product "Strong Authentication" of AliasLab with a risk management module of cyan.
As part of the European Payment Service Directive (PSD2), European banks are required to implement authentication mechanisms such as SMS one-time passwords, physical tokens, voice or face recognition in their online banking and payment systems. cyan's risk management module allows AliasLab to select the optimal authentication mechanisms based on the individual threat situation of end users and thus secure the use of online banking in the best possible and efficient way - the higher the threat situation of the end customer, the more complex and extensive the authentication methods. The individual threat situation is determined by cyan from the GPS data, motion profiles and usage behavior.
Peter Arnoth, CEO of cyan: "We are very pleased to be able to cooperate with AliasLab, one of the leading payment security providers, worldwide and to jointly offer a security solution for the upcoming PSD2 directive. The timing could not be better."
The joint solution from cyan and AliasLab enables banks and other financial institutions to easily comply with the requirements of PSD2. Two well-known customers in Italy have already been won over for this joint solution - other banks have expressed their interest and are in some cases nearing completion.