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CheckAlt Collaborate On Streamlined Check Payments; Hanseatic Bank Works With Entersekt Netcetera On ID Authentication Today In Digital-First Banking: LetUs

Today In Digital-First Banking: LetUs, CheckAlt Collaborate On Streamlined Check Payments; Hanseatic Bank Works With Entersekt, Netcetera On ID Authentication

June 15, 2021 at 11:39PM
by PYMNTS

In today’s top news in digital-first banking, LetUs By RentMoola has collaborated with CheckAlt, while Hanseatic Bank has unified its authentication processes with help from Entersekt and Netcetera. Plus, DailyPay is working with PNC Bank and The Clearing House on real-time payments of earned income.

LetUs, CheckAlt Team On Streamlined Check Payments

LetUs By RentMoola has teamed with CheckAlt, a lockbox and treasury management firm, to allow for more expedient check payments. Financial institutions (FIs) and businesses harness CheckAlt’s offerings. A Qualtrics study determined that 42 percent of millennials still harness checks for some kinds of transactions such as rent payments.

Hanseatic Bank Teams With Entersekt, Netcetera On ID Authentication

Hanseatic Bank, a German FI, has unified its authentication processes with a cloud-based identity and access management (IAM) offering from Netcetera. “We are pleased to be part of Hanseatic Bank’s success story as an integral part of the Netcetera IAM solution,” Uwe Härtel, country manager for Central Europe at Entersekt, said in a press release.

DailyPay, PNC, TCH Partner On Real-Time Payments Of Earned Income

DailyPay, an on-demand payment firm, is working with The Clearing House and PNC Bank to provide real-time employee payments of earned income over the RTP network. “DailyPay’s utilization of the RTP network provides a seamless user experience and benefits the worker and the employer,” Steve Ledford, senior vice president of Product Strategy and Development at The Clearing House, said in an announcement.

China Tests Digital Yuan In Wage Payments

The digital yuan is now in play in the Xiong’an New Area of China. The district, which is located near Beijing, has served as a testing ground for new economic ideas. The digital yuan, which is a central bank digital currency (CBDC), will be harnessed in that location to pay some workers. China is said to be far along in its piloting of the new digital yuan. It has done so in multiple regions in the last year.

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Hanseatic Bank Teams With Entersekt Netcetera On ID Authentication

Hanseatic Bank Teams With Entersekt, Netcetera On ID Authentication

June 15, 2021 at 06:12PM
by PYMNTS

Hanseatic Bank, the German private bank, has unified its authentication workflows with a cloud-based identity and access management (IAM) offering from Netcetera, according to a Tuesday (June 15) announcement emailed to PYMNTS.

The bank will harness the same authentication processes for credit card payments on the web, via online banking and different self-services in the future, according to the announcement.

Netcetera’s authentication app uses the PSD2-compliant Transakt SDK from Entersekt. With the technology, a request is delivered to a user’s smartphone through a push notification when needed. That request communicates the details of the business transaction to be released. The user can then accept the request through biometrics or a PIN.

“By providing a secure communication channel as well as various authentication factors, Entersekt technology combines excellent security with superior user experience. We are pleased to be part of Hanseatic Bank’s success story as an integral part of the Netcetera IAM solution,” Uwe Härtel, country manager for Central Europe at Entersekt, said in the announcement.

The new identity and access management technology from Netcetera aims to streamline authentication for end customers, as they only need a single account at their bank to access various applications and services. Moreover, customers generally have the ability to recover their access data on their own, which could be helpful in cases such as lost passwords.

“We immediately saw the potential of the authentication app for the use of our credit cards in the 3-D Secure project with Netcetera,” Rüdiger Mause, a Hanseatic Bank official, said in the announcement. “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 [strong customer authentication] in the most user-friendly way possible by using uniform authentication procedures.”

Mause said the new identity management solution from Netcetera also lets the bank modernize its onboarding and lifecycle management workflows. “With our new IAM solution, which we offer as a cloud service, we enable banks to improve their services,” Bernhard Binz, director of sales at Netcetera, said in the announcement.

As PYMNTS previously reported, SCA has been mandated by PSD2 and mandates multifactor authentication.

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