Multibank portal MULTIVERSA IFP with EBICS 2.4 offers enhanced security

December 8, 2009 - The multibank-enabled e-banking solution MULTIVERSA IFP International Finance Portal by CoCoNet supports the internet communications standard between banks and corporate customers EBICS version 2.4 launched by the ZKA (Zentraler Kreditausschuss, made up of the leading associations of the German banking industry).

The main focus of enhancements of the current EBICS version 2.4 is on a further increased security level. This EBICS version with the currently deployed internationally recognized and common cryptographic procedures complies with the recommendations of the BSI (German Federal Office for Information Security), e.g. with regard to extended key lengths in the RSA procedure for signature security.

As a corporate finance portal MULTIVERSA IFP enables the entire central payments transactions processing. With the communications standard EBICS corporate customers can reach all their German bank connections. Banks can make MULTIVERSA IFP available to their corporate customers as a multibank portal.

For switching from a previous version to the security level of EBICS version 2.4 MULTIVERSA IFP allows a ”soft migration“ with a parallel operation of bank connections to banks with EBICS 2.3 and 2.4, that do not require being switched at the same time.

The German ZKA in the context of EBICS 2.4 enhancements also specified new formats for SEPA credit transfers and direct debits as well as new central bank order types. So corporates and banks deploying MULTIVERSA IFP via EBICS 2.4 now can directly use the new central bank services.

CoCoNets finance portal MULTIVERSA IFP also meets the requirements of the Payment Services Directive PSD 2.0 that was recently adopted by the European Commission and in its most important rule for Euro payments regulates the sharing of charges between remitter and beneficiary.