The cost of cybercrime is rocketing—to $500 billion in 2015 according to The Economist. This is why European Commission introduced the Revised Directive on Payment Services (PSD2) to implement strong two-factor authentication for payments before 2018.
There are already several MFA solutions on the market, however they are suboptimal - expensive to implement, slow to use and do not meet requirements for PSD2, eIDAS and modern EC-funded approaches to crypto libraries.
Notakey allows banks to implement a strong and scalable multi-factor authentication. The technology is made in a way that it can easily be implemented also in other industries, where there is need for protecting sensitive data.
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