Strong authentication serves to reduce the risk of fraud and protect the confidentiality of the authentication data used in open banking.
For strong authentication, 2 of the following methods must be used:
- Knowledge: authentication with something that only the customer knows (Ex .: Username, passcode)
- Possession: authentication with something that belongs to the customer (Ex .: Mobile phone, card)
- Inherence: authentication with something the customer is (Ex .: Fingerprint, voice recognition)