They will also support new revenue streams and at the same time meet PSD2 and instant payments compliance requirements.
By utilizing ACI’s UP Retail Payments solution, EBH will be able to ensure real-time balance data will be available 24/7 to all customers across all banking channels. The ability to provide such balances is a crucial compliance requirement of Hungary’s domestic instant payment scheme, which will launch in 2019.
In order to comply with PSD2 and strengthen fraud protection around instant payments, EBH will also utilize the latest version of Proactive Risk Manager (PRM) and implement real-time prevention and detection capabilities. PRM will be fully maximized, especially for transaction risk analysis and reporting requirements in regard to the new Regulatory Technical Standards (RTS) for ‘Strong Customer Authentication’ (SCA).
PSD2 requires payment service providers (PSPs) to improve the authentication of payment transactions to tackle fraud, introducing ‘Strong Customer Authentication’ as the means to do this. Under the new rules, exemptions from SCA are only allowed for those who can keep their fraud levels under specified reference fraud rates, which allows payments under certain thresholds to be secured using transaction risk analysis.
Ultimately, PRM will enhance EBHs enterprise fraud detection capabilities and empower the bank to provide a better customer experience to both consumer and corporate customers.
EBH, a long-standing ACI customer, is a member of Erste Group, one of the largest financial services providers in Central and Eastern Europe, with 15.8 million clients across a network of more than 2,700 branches in 7 countries (Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia and Serbia).
To find out more about ACI Worldwide, please visit our online payments company database for a complete company profile with services and offerings.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now