2017 – A year of disruption in Payments & Banking

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It’s 2017 and, ready or not, the payments & banking industry is facing disruption. But what does that mean for your company’s cyber security? We hope to unravel that for you in the Irdeto payments & banking security blog we’re launching today.

For years, Irdeto has helped companies in the media industry solve a lot of the same kinds of security problems you’ll be facing as you navigate a disrupted payments & banking landscape. This experience has provided us with a unique perspective

Seeing cybercrime as a business helps to fuel new combat strategies

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Picture Bob. He thinks he’s figured out how to avoid paying for cable TV by watching programs streamed from pirate websites. One day, he’s watching a live football broadcast and ten minutes into the game, he loses all access. His screen goes blank. Is ruining the user experience on pirated sites a new combat strategy?

Seeing it differently
Degrading user experience may not be the first thing that comes to mind when considering how to combat cybercrime.

Opening the door for a new era of payments

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The EU Payment Service Directive (PSD2) aims to enhance consumer security, increase competition and create a single EU-wide market for payments. No doubt this market disruptive initiative opens the door for innovation. But will PSD2 inadvertently introduce more vulnerability for the cybercriminals to exploit?

Radical change
Achieving its aims all hinges on the banks sharing their customer data with anyone that holds the required license. This third party access to accounts (XS2A) ensures that banks cannot block the move to a new payment services market.