Fintech, Finance, Technology, Banking Highlights – 31 August 2018
Adyen launches first-to-market 3D Secure 2.0 solution to help customers boost security and authorisation rates
Adyen, a payments platform, launched a fully-certified 3D Secure (3DS) 2.0 solution which it has made available to its customers or merchants needing a next-generation authentication solution.
The first-to-market solution is based on EMVCo’s 3DS protocols and will help merchants reduce risk and protect their customers from payments fraud. It also overcomes a significant pain point of 3DS 1.0 by improving the payments experience for customers, particularly on mobile.
Adyen’s 3DS 2.0 is the first solution available capable of authenticating a transaction in the background without intervention from the customer. This creates a seamless payments experience and helps merchants increase conversion rates. It is made possible through EMVCo’s 3DS 2.0 protocols, enabling the analysis of more than 100 different data points shared between issuing banks, and information from across Adyen’s global payment network, to help merchants build stronger authorisation cases.
It also creates an improved customer experience for transactions that require strong authentication, enabling shoppers to use biometrics such as fingerprint recognition, voice recognition or facial scans, as well as SMS-delivered two-factor authentication. Importantly, Adyen’s solution can be seamlessly implemented on mobile devices, something that previous iterations of 3D Secure 1.0 could not achieve.
Adyen’s 3DS 2.0 solution automatically determines compliance requirements for each transaction, to help merchants to manage regulatory requirements such as the European Union’s Payment Service Directive 2.0 (PSD2) and allows global merchants to accept transactions originating in Europe.
Kony Announces Strategic Partnership With Payveris to Deliver Innovative Digital Payments Solutions
Kony, a provider of digital banking solutions, announced a strategic partnership with Payveris LLC, the fastest-growing provider of digital money movement technology to financial institutions.
By collaborating with Payveris, Kony DBX will help banks and financial institutions deliver highly-secure digital money movement services, including Person-to-Person (P2P), Account-to-Account (A2A), bill payment, and fraud mitigation.
Payveris, based in Cromwell, CT, offers a scalable, open-API cloud-based money movement platform that enables financial institutions to offer bill payment and presentment, P2P and A2A transfers, and integrated fraud monitoring all from a single platform. The Payveris platform enables banks and credit unions to deploy their money movement services seamlessly across any channel, reduce operating expenses and enhance their customers and member’s digital money movement user experience. While other money movement platforms are rigid and inflexible, this modern API-driven approach lets financial institutions provide true flexibility for modern payment workflows.
“The banking industry is undergoing one of the most disruptive tectonic shifts in modern history. In order to effectively compete in this digital era, banks must evolve to meet the rapidly changing expectations of their customers,” said Jeffery Kendall, senior vice president and general manager, Kony DBX. “A key area where banks can make an immediate impact for their customers is by providing a differentiated money movement experience. For example, creating experiences that incorporate social media or reinforce the bank’s brand and identity. We are excited to collaborate with Payveris to provide new, innovative digital payment solutions to empower banks and credit unions to deliver differentiated experiences that will meet their customers’ needs today and in the future.”
Up to 50 new tech jobs at DataVita after £4.6m funding boost
Lanarkshire-based DataVita Ltd, a datacentre and cloud services provider, has secured £4.6 million in funding from long-term banking partner Santander Corporate & Commercial which will see the creation of up to 50 new technology jobs in Scotland.
DataVita operates Scotland’s largest and most advanced purpose-built co-location facility. It is also the first facility in the UK to be Tier III certified for both design and construction, with capacity for over 2,000 racks – all powered by 100% renewable energy. DataVita launched in 2016 with the vision of bringing true hybrid co-location and cloud services to the Scottish market, allowing customers to control where their data and services are stored. In July, DataVita joined the UK Government’s G-Cloud 10 Framework, allowing public sector organisations to access the firm’s services.
DataVita is part of HFD, a leading commercial property and investment company. The Group has been a Santander customer since March 2012, with the relationship expanding over the past six years including asset finance lines of £500,000 and the full day-to-day transactional banking relationship.
Danny Quinn, Managing Director, DataVita, commented: “Our datacentre has been developed to meet the requirements of the thriving Scottish IT industry and in a short period of time, more and more customers are recognising us as the market leader in technology services. This latest round of investment from Santander allows us to accelerate our growth with the creation of up to 50 technical jobs and new innovative services.”
