Third-parties in the open-ecosystem can gather data and initiate transactions on behalf of clients. This create a challenge to recognize the client and to prevent fraud. FIs need to adopt technologies that ensure secure customer authentication and mitigate impacts on customer experience without disclosure of security credentials to third-parties.
Goals and Objectives
Ensure an appropriate level of authentication of clients accessing their account indirectly via a third party to improve the security of initiated transactions and to reduce fraud. Combine biometric methods with risk-based transactional monitoring to limit negative impacts on customer experience.
Oauth 2.0 platforms
Customer consent management
Use Case Summary
Clients accessing home account indirectly via third parties are authenticated via multifactor authentication method. Strong customer authentication may apply to more risky transactions.