PSD2 Standards Clear European Parliament & Council

PSD2 is continuing to clear its final hurdles with yesterday (27 February) being the deadline for the PSD2 Regulatory Technical Standards (RTS)to be “objected” to or not in the European Parliament/Council. Neither institution objected and the RTS are expected to be adopted by the Commission and published in the Official Journal on 7 March. Thus, as expected, the application date for Strong Customer Authentication for all European banks is then 18 months later, in September 2019.

In the coming months, Touchtech will provide in-depth analysis of 27 of the key RTS provisions affecting European banks. While the core principle of Strong Customer Authentication being two of something a customer “is”, “knows”, or “has” is quite widely-known, what this means for banks’ digital channels remains unclear to many.

Banks which embrace PSD2 as an opportunity to optimise user experiences will thrive, while those which view the Directive as just a regulatory burden will quickly lose the best customer demographics.

If at any time you wish to discuss PSD2 and its standards with us directly please visit for our free whitepaper.

Sample 3D Secure experience with Touchtech

About Touchtech

Touchtech provides simple, secure authentication solutions to the world’s most innovative financial institutions such as N26.

Our solutions are seamless omni-channel experiences at the core of banks’ digital transformation efforts.

With a keen focus on design thinking and utilising machine learning, Touchtech ensures that complying with regulation goes hand-in-hand with boosting online user experiences.

Customers of our 3D-Secure solution typically enjoy 40% reductions in cart abandonment, 80% reductions in fraud and avoid the security vulnerabilities, customer dissatisfaction and high costs of SMS-based authentication.