PSD2 – Strong Customer Authentication - Life Credit Union

PSD2 – Strong Customer Authentication

  A new European regulation (Payment Services Directive 2/ PSD2) relating to payment services comes into force on 14 September 2019. This will affect the whole banking industry, and will further protect your online banking and payments.   These new regulations will affect your use of our Online Banking Services – Mobile Banking and Internet...

By Michelle Greene | July 31, 2019

 

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A new European regulation (Payment Services Directive 2/ PSD2) relating to payment services comes into force on 14 September 2019. This will affect the whole banking industry, and will further protect your online banking and payments.

 

These new regulations will affect your use of our Online Banking Services – Mobile Banking and Internet Banking.

 

From July 2019 onwards, when you log in, and make certain online payments, you may be asked for additional security, as well as your current log on details. This extra security layer is to apply what is known as Strong Customer Authentication (SCA). You may have used or seen this on other websites called Two Factor Authentication, and it helps fight fraud by strengthening your existing log on details.

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