iSignthis leverages Assuritys OneKey for customer authentication, online KYC identification

Monday 5 May 2014 10:56 CET | News

iSignthis, an Australian payment authentication company, has inked a contract with Assurity Trusted Solutions, a wholly owned subsidiary of the Infocomm Development Authority of Singapore, to allow iSignthis to access Assurity’s two factor authentication (2FA) services.

The service provides an automated means to assist Anti-Money Laundering (AML) obligated entities to meet their Know Your Customer (KYC) compliance requirements by remotely identifying customers. These remotely identified customers may then be remotely provisioned with 2FA services.

The Assurity 2FA service, which underpins Singapores National Authentication Framework (NAF), will be offered by iSignthis as a service to issuing banks, acquirers, payment service providers, enterprise and government agencies outside of Singapore.

The European Central Bank (ECB) has mandated ‘Strong Customer Authentication’ (SCA) for all card and e-wallet transactions in the EU/SEPA by February 2015. Payment Service Providers in the EU/SEPA now have a credible card scheme agnostic and multi card scheme solution to meet the ECB’s ‘Security of Internet Payments’ requirements, across all 30+ of the ECB recognised credit card schemes. Regional issuers, acquirers and payment gateways may also enjoy the benefits of the combined EOI+2FA service, which will be available in India, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Australia and New Zealand.

iSignthis is a provider of payment authentication and e-identity solutions. iSignthis patent applications are pending/granted in Africa, Australia, Asia, Americas, Europe and Oceania.

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Keywords: iSignthis, customer authentication, KYC identification
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime