Moneyou
What was the problem?
The banking landscape is changing. Fintech companies and other new competitors are entering the market challenging traditional business models and forcing financial institutions to adapt and innovate. New technologies are now available creating opportunities to better meet changing consumer demands. Moneyou is a full daughter of ABN AMRO and has been a savings bank for almost a decade. Recently it decided to adapt to these opportunities and change its strategy and business model. In the near future , Moneyou will become a full service mobile bank offering all payment and cash transactions. The ensuing security challenges make authentication a key factor in the successful implementation of the new strategy.
What was the solution?
Moneyou selected PwC as its partner to develop a central authentication capability that allows customers to interact with their money and bank account in a no-hassle and secure manner. Whether the channel would be mobile, the web or the call centre, Moneyou’s customers should experience a smooth journey. PwC designed the new architecture based on the technology of ForgeRock, that would facilitate secure authentication and at the same time maximum ease of use for clients. After approval of the new architecture PwC was also selected to implement and integrate the authentication platform into Moneyou’s existing environment.
What was the result?
Authentication is crucial to allow for secure interaction of clients with Moneyou and to prevent abuse and fraud. It is essential to know who is ‘on the other side’ whenever there is a contact. With the new authentication capability in place Moneyou can move ahead and implement its new strategy. The design of the authentication platform is of such a kind that it can be easily customized when this is mandatory for new innovative functionality or for regulatory and security reasons. A change made in the central authentication capability is immediately available across all the channels, processes and services of the new digital bank.
