Something that only the customer knows (a password, a personal identification number, an access code, etc.)
What is PSD2?
The Payment Services Directive 2 (PSD2) is a European Union directive that aims to better integrate payment systems in the European area, increasing their efficiency and security, creating a basis for equality of all payment services providers and enhanced customer protection.
This new regulation aims to create an ecosystem that fosters openness to innovation and creation of new tools to improve all payment systems and processes at European level.
Open Banking
Open Banking is a term used in the financial sector to describe an ecosystem created for the use of APIs, applications whose purpose is to link two or more systems together, and to allow third party payment service providers (TPPS) to securely access financial information provided by banks.
Performance Report:
SIBS API Market
Platform created by SIBS, which has BiG as a founding partner and provides all the APIs developed according to PSD2 and their technical information.
This solution allows having aggregated information of the payment accounts of the various payment services providers, which can improve, for example, the exchange and validation of information associated with each client or the creation of new payment solutions and services by banks.
As an integrated solution, it also helps to increase security and prevent frauds.
The access to this platform is through the following link: www.sibsapimarket.pt
Strong Customer Authentication System
From 14 September 2019, new authentication standards apply to payment systems in the European area and therefore new security requirements apply for accessing BiG accounts. As an integrated solution, it also helps to increase security and prevent frauds. This system will be used when accessing the client’s private area of BiG’s website for the first time and then every 90 days to renew this validation. In addition, it will also be used for all transfers made online.
The Strong Customer Authentication System will be applied in the authentication process and the authorization of payment operations, which requires the validation of the user's identity through 2 of 3 elements, namely:
Something that only the customer has (a bank card, his mobile phone, etc.)
An inherent characteristic of the customer (the face, voice, fingerprint, etc.)