Madrid, 13th March 2020
Greater information and transparency. The user will know all expenses associated with each transaction, as well as their status and timeframe for execution, with no added cost.
Reduced fraud and increased banking security through the implementation of stronger authentication measures, using at least two of the following three methods: inherent measures, such as fingerprint, iris or face recognition; a physical reference such as a card, digital certificate or a mobile phone; and thirdly, known information, such as a PIN or password.
The main priority of this new legislation is security. With this in mind, and with the aim of offering measures for protecting data as much as money, GDS Modellica is a provider of software, decision analysis and machine learning techniques for managing risk, combating fraud and building worthwhile relationships between businesses and their customers. Their solutions for managing risks specific to the banking industry help to guide development and implement actions by applying solutions that are tailored to individual needs. This way, adds García Rouco, “with our technological capabilities, they can simplify daily operations and enjoy a more satisfactory user experience, including with the application of SCA (Strong Customer Authentication).”
Open banking, which is part of the payment directive, reduces the number of operators involved in a transaction, increases transparency and notably improves the user experience, encouraging fairer competition and identifying and addressing risks and fraud with greater ease and urgency. The work of GDS Modellica is essential, according to the managing director, “because we offer an improved customer experience through careful attention to their needs coupled with our own broad experience as industry leaders. Our tools can be tailored to offer complete solutions and completely optimise current applications and improve risk prevention with the necessary components.”
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