Transakt entspricht dem EBA-RTS

Transakt complies with the EBA RTS

SRC confirms that the mobile banking solution Transakt by Entersekt meets the PSD2 require­ments

In the world of payment services, 2018 will be dominated by PSD 2 and the EBA RTS. The new rules have been in force in the EU since 13 January. The main reason for the new rules is the massive change in the IT landscape in recent years. For example, it has become possible to use smart­phones and other mobile devices for banking appli­ca­tions. The European Banking Authority (EBA) has also estab­lished a technical regulatory standard (Regulatory Technical Standard, RTS) for this purpose. Among other things, the RTS places high security require­ments on apps with banking function­ality.

Entersekt is a global company specialised in innov­ative, mobile solutions for financial insti­tu­tions. One of these solutions is Transakt. It enables the provision of strong customer authen­ti­cation in accor­dance with the EBA RTS in design and imple­men­tation. Entersekt was looking for an independent expert to check and document the conformity of Transakt with the EBA RTS.

EU regula­tions often leave room for inter­pre­tation, knowledge of the intri­cacies of payment trans­ac­tions is only available to a few experts, and expertise in IT security assess­ments of authen­ti­cation systems is currently one of the most sought-after compe­tencies. All these topics had to be covered for the assessment of our solution. SRC was able to analyse all of these areas for Transakt with remarkable expertise,” says Jonathan Knoll, Country Manager for Central Europe at Entersekt.

The design of Transakt was indepen­dently evaluated by SRC, and the fulfilment of all relevant articles of the EBA-RTS could be completely documented. Jonathan Knoll is also completely satisfied with the result: “The SRC team’s extensive expertise in preparing the Conformity Report for Transakt was very valuable to us. This indepen­dently prepared report enables us to prove compliance with the EBA RTS to potential customers”.

At SRC, the design of Transakt left a very harmo­nious overall impression. Proce­dures are used which clearly exceed the minimum require­ments of the EBA RTS. “We knew that we did our homework on a technical level. But the successful evalu­ation by SRC’s external experts has once again confirmed that our solution is truly “state of the art”,” Knoll concluded.