Trusona, the pioneering leader in passwordless multi-factor authentication technology, today announced that Tandem Bank has selected and deployed Trusona to provide PSD2-compliant, passwordless strong customer authentication (SCA) that enhances the user experience while securing users and their financial data across all channels.
Tandem Bank, a digital savings bank formed from Tandem Money’s acquisition of Harrod’s Bank in 2018, not only wanted to satisfy the UK’s Open Banking SCA regulatory requirements, but also be able to extend consistent and secure authentication across multiple channels, including their app and contact centre. Trusona empowers Tandem to continue to delight their customers by removing the largest cyber threat vector of static credentials — including passwords, banking IDs, pins, codes and security questions — from their customer experience, reducing user friction, promoting app engagement and making digital self-service simple.
“Tandem has always been driven by providing an excellent customer experience and we wanted to be able to extend that to the passwordless Strong Customer Authentication experience across all our channels and customer journeys over time,” said Nick Bennett, COO, Tandem Bank. “Like all UK banks, Tandem is required to comply with Open Banking, including the provision of PSD2 SCA. Tandem selected Trusona as their passwordless solution is SCA compliant, but more importantly because they share our passion for providing a seamless customer experience, and their technology was quick and easy to deploy.”
In the EU, PSD2/Open Banking regulations now require all payment account providers to apply SCA in order to increase the security of electronic payments. To read more about Trusona’s passwordless SCA solution, please visit https://www.trusona.com/strong-customer-authentication-sca.
- Demand increases for Open Banking as user numbers grow to more than two million
- Moneybox app announces Open Banking merger with Santander
- Tesco Bank introduces new payment technology for 2.6 million credit card customers
- Open Banking Expo Canada returns virtually this November
- Revolut customer base to grow by a third by 2021