Hanseatic Bank to streamline transaction authentication with Netcetera

Hanseatic Bank has selected a cloud-based identity and access management (IAM) solution from Netcetera.

The bank aims to reduce customer friction

The bank plans to use a unified authentication procedure for credit card payments, online banking and self-services.

Netcetera will also work with third-party vendor Entersekt to deploy the latter’s software development kit.

Netcetera’s authentication app uses Entersekt’s PSD2-compliant Transakt SDK.

Through it, a user is sent a message via push notification on their phone, alerting them of the content of an ongoing payment.

The customer can then use biometrics or a PIN to confirm the transaction.

Hanseatic Bank is aiming to reduce friction for its customers and avoid using multiple separate authentication measures.

Doing so, it says, will prevent customers from becoming frustrated at having to continuously log-in or re-register with multiple security measures.

“We immediately saw the potential of the authentication app for the use of our credit cards,” says Rüdiger Mause, business owner for the Digital Factory at Hanseatic Bank.

“The step to use this app for business transactions and logins in the future was obvious for technical and commercial reasons.

“However, the decisive factor was to implement the PSD2 requirements for SCA in the most user-friendly way possible by using uniform authentication procedures.”

Founded in 1969, Hanseatic Bank is a private bank based in Hamburg. It operates 10 branches across Germany and employs around 500 people. In 2020, it reported a net income of €59 million.

“Since for many customers strong authentication procedures for their bank accounts are common practice, they naturally cope much better in both worlds with a uniform procedure,” says Bernhard Binz, director for sales at Netcetera.

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