Banking Success Story: Encrypted Push & WiZink

02 DEC. 2021
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Banking Success Story: Encrypted Push & WiZink

Discover our two-factor authentication for online purchases

Our customer WiZink, the digital consumer credit bank that operates in Spain and Portugal, has been able to make the most of push notifications. It has extended their use to deal with the requirements of European Directive PSD2, specifically regarding the need to implement Strong Customer Authentication (SCA) for online purchases. By using it, not only has it managed to increase the security of its transactions, but it has also considerably improved user experience by helping them to validate monetary movements simply and directly.

The challenge of the digital bank WiZink: adapting to the European Directive PSD2

In 2015, the European Union created a directive to force banks and financial  companies to implement systems that help to protect against fraud, especially with regard to online card payments. If you regularly carry out these kinds of transactions, you will have seen how in recent years the verification system has become more sophisticated.

The response to this has been the SCA (Strong Customer Authentication), a double-factor authentication method that has been mandatory since December 31, 2020. This reinforced verification forces you to validate your identity with at least two of these three methods:

  • With something you know. This is what happens when you are asked to use passwords.
  • With something you are. For this, they use biometric systems such as your fingerprint.
  • With something you have. Such as, for instance, your mobile phone. It is precisely in this method that the digital bank WiZink saw a clear opportunity to differentiate itself from other banks and also to improve customer satisfaction.

WiZink’s innovation through the use of push notifications

Through its collaboration with indigitall, WiZink has developed a validation system focused on app push notifications. Thanks to this, if you are its customer, both your computer and your mobile phone will be valid tools to accredit your identity. When the user goes to carry out a transaction, they will be sent a code directly to their device with which they will be able to confirm their identity quickly, without having to move between different screens.

The OTPs (One Time Passwords) sent to the app by push notifications replace the sending of SMS messages to the user’s mobile. So, not only have we simplified and improved user experience, but we have also considerably reduced SMS message costs since they are not necessary.

Furthermore, it is a system where we provide more security than other methods, such as the sending of OTPs via SMS or the insertion of card contrast data. At indigitall we have developed a point-to-point encryption system because it guarantees that only you will be able to receive notifications from WiZink, thereby eliminating potential fraud due to phishing.

All these upgrades also translate into a much more streamlined and simple process for users, who will not have to give their telephone number, so it will be much easier to protect their data. As a result,  WiZink has confirmed an improvement in customer satisfaction and higher brand reputation, as well as a higher rate of customer-approved purchases—higher than when compared with SMS which has a transaction percentage of 78% against 90% with push notifications.

Finally and in order to guarantee flexibility in these kinds of transactions, both WiZink and any other customers who want to join this initiative will benefit from a technology developed specifically for this verification method. We have a push channel with servers allocated exclusively to this purpose, and we conduct point-to-point encryption in all app push notifications. With the transactional API, you will see in real time whether the messages are sent correctly and, if you want, we can provide the service on servers that are dedicated and exclusive to your company, adding a VPN to improve the security of communications between both parties.

As you can see, push notifications are much more than an effective strategy. If you are thinking about using them for our business, get in touch with indigitall, and we will be happy to advise you with no obligation.

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Related topics: Encrypted Push Success Story