Open Banking Ecosystem Fabrick has combined with specialists French retail banking firm, Crédit du Nord, for the launch of Identity Check Mobile (IDCM), to make biometric authentication available to cardholders for remote transactions.

It comes as the final element of PSD2 begins to take hold and banks are now required to embrace heightened customer authentication for most card transactions. 

The PSD2 requirement for strong customer authentication for most card transactions, combined with the recent mandate on biometrics requiring that issuers make biometric authentication available to cardholders for remote transactions, has increased the importance of simple and rapid authentication solutions. 

IDCM provides a secure and easy way for users to identify themselves while shopping online.  As part of the payment authorisation process users receive a notification on their phone which asks them to identify themselves using secure biometric data via their mobile phones, comprising fingerprint, face or voice recognition.

Marco Casartelli, Deputy CEO of Fabrick, commented: “Strong customer authentication that harnesses the power of secure biometric data is an increasingly vital part of modern banking, providing the convenient and protected transactions that customers demand. We are proud of our collaboration with Crédit du Nord and this is an opportunity to embark on an innovation journey with them. 

“The partnership confirms our role as a trusted partner for leading banks and fintech companies across European markets. Crédit du Nord is a company that understands the material advantages that technological innovation and open banking bring in terms of delivering their end customers with value-added services such as robust security and easy-to-use authentication.

“Our IDCM solution brings together the integration between the credit card circuit players and banks creating efficient internal processes for our partners and benefits for their customers. Fabrick’s track record in leading innovation is the ideal accompaniment to maintaining a competitive market position.”

The growth in e-commerce, which has accelerated during the COVID-19 pandemic, has also led to an increase in fraud. IDCM addresses consumers’ security fears, while delighting them with its ease-of-use which is also helping driving adoption.

Laurence Deschuyteneer, Head of Payments within Crédit du Nord Group, added: “The growth of e-commerce, which has been accelerated by the pandemic, places the risk of fraud at the center of the concerns for online shoppers.

“Crédit du Nord responds to this major concern of its private, professional and corporate clients: this application guarantees both strong customer authentication meeting the requirements of regulations on payment services. The app is both an additional anti-fraud system as well as a secure shopping experience.”