Authentication

AstraBank enhances client security with Strong Customer Authentication (SCA), requiring multi-factor verification for electronic payments to reduce fraud risks.

AstraBank places paramount importance on the security of our clients' transactions and personal information. In line with this commitment, we have implemented Strong Customer Authentication (SCA) as a cornerstone of our security measures. SCA is designed to add an extra layer of protection for our clients, ensuring that electronic payments are performed with multi-factor authentication, thereby significantly reducing the risk of fraud.

What is Strong Customer Authentication?

Strong Customer Authentication is a requirement that demands a minimum of two forms of verification from the following three categories before a transaction can be approved:

- Something the user knows (e.g., a password or PIN), - Something the user has (e.g., a smartphone or hardware token), - Something the user is (e.g., biometric verification such as fingerprints or facial recognition).

This approach ensures that the process of authenticating a payment or account access request is highly secure and significantly more resistant to interception or fraud.

How SCA Benefits Clients:

• Enhanced Security: By requiring multiple verification methods, SCA makes it much harder for unauthorized individuals to access accounts or complete transactions fraudulently.

• Reduced Fraud: The added layers of authentication reduce the likelihood of successful phishing attacks, identity theft, and unauthorized transaction attempts.

• Increased Trust: Clients can conduct their banking with greater confidence, knowing that enhanced security measures are in place to protect their financial activities.

SCA in Action at AstraBank:

At AstraBank, SCA is seamlessly integrated into the client experience. Whether accessing their account online, making a payment, or performing any action that requires authentication, clients will encounter SCA protocols designed to be both secure and user-friendly. Our systems intelligently prompt for authentication based on the transaction's context, risk level, and regulatory requirements, ensuring security without compromising convenience.

Adapting to Regulatory Standards:

SCA is not only a best practice in digital security but also a regulatory requirement in many jurisdictions, designed to protect consumers in the increasingly digital world. AstraBank's implementation of SCA reflects our adherence to these regulations and our proactive stance in adopting technologies that safeguard our clients.