How SCA and 90-day Reauth Harm Competition & Security

by paul

If you’ve read the previous tomes in this series, you’ll know that the FCA’s proposed change to the 90-day reauthentication requirement will have significant positive impact on the industry – and why this course correction is good for the competitive landscape and fintech innovation. You’ll also already know the context for how the rules combining secure customer authentication (SCA) and the 90-day rule are mired in a conflicting quagmire that does nothing to materially improve customer security and access to open banking value propositions. Not to mention, you’ll already be familiar with how SCA and 90-day do nothing to further the PSD2 objectives to improve innovation, promote competition, and secure consumers better financial outcomes; in fact, it does the just the opposite as it dooms PSD2 to a political failure rather than an innovation triumph.

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