CORDIS Project
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The project aims to provide a robust multi-factor authentication solution for banks and other industries to enhance data security against cybercrime. By addressing the shortcomings of existing methods, this technology facilitates compliance with new regulations while ensuring user-friendly implementation.
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 implem…
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