Case Study: Bank of Cyprus achieves PSD2 compliance and enhanced mobile customer experience with OneSpan

Enhancing Customer Experience With Software Authentication And Psd2-compliant Dynamic Linking

Bank of Cyprus, the leading banking group in Cyprus, needed to move customers off legacy OneSpan Digipass hardware tokens as mobile transactions grew, while meeting PSD2’s strict dynamic linking and strong customer authentication requirements without degrading the user experience. The bank chose OneSpan and its Mobile Security Suite (including integrated software authentication, push notifications and Cronto® transaction-signing technology) to replace hardware OTPs and preserve a single, seamless mobile app experience.

OneSpan implemented SDK-based software authentication (Touch ID/Face ID), Cronto cryptogram scanning for offline transaction signing, and SMS/OTP fallbacks, with the pilot going live in three months. The OneSpan solution delivered PSD2 compliance, high customer satisfaction, faster onboarding and lower operational costs (fewer mailed hardware tokens), and achieved roughly 30–40% adoption among users who tried the integrated software authenticator.

Bank of Cyprus

Charis Pouangare

Director Consumer & SME Banking