Summary
The cost of cybercrime is rocketing—to $500 billion in 2015 according to The Economist. This is why European Commission introduced the Revised Directive on Payment Services (PSD2) to implement strong two-factor authentication for payments before 2018.
There are already several MFA solutions on the market, however they are suboptimal - expensive to implement, slow to use and do not meet requirements for PSD2, eIDAS and modern EC-funded approaches to crypto libraries.
Notakey allows banks to implement a strong and scalable multi-factor authentication. The technology is made in a way that it can easily be implemented also in other industries, where there is need for protecting sensitive data.
There are already several MFA solutions on the market, however they are suboptimal - expensive to implement, slow to use and do not meet requirements for PSD2, eIDAS and modern EC-funded approaches to crypto libraries.
Notakey allows banks to implement a strong and scalable multi-factor authentication. The technology is made in a way that it can easily be implemented also in other industries, where there is need for protecting sensitive data.
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More information & hyperlinks
| Web resources: | https://cordis.europa.eu/project/id/745088 |
| Start date: | 01-04-2017 |
| End date: | 30-09-2017 |
| Total budget - Public funding: | 71 429,00 Euro - 50 000,00 Euro |
Cordis data
Original description
The cost of cybercrime is rocketing—to $500 billion in 2015 according to The Economist. This is why European Commission introduced the Revised Directive on Payment Services (PSD2) to implement strong two-factor authentication for payments before 2018.There are already several MFA solutions on the market, however they are suboptimal - expensive to implement, slow to use and do not meet requirements for PSD2, eIDAS and modern EC-funded approaches to crypto libraries.
Notakey allows banks to implement a strong and scalable multi-factor authentication. The technology is made in a way that it can easily be implemented also in other industries, where there is need for protecting sensitive data.
Status
CLOSEDCall topic
SMEInst-13-2016-2017Update Date
27-10-2022
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