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Version 3.19.0

· 2 min read

OWT information in the managed account statement

The activity statement for managed accounts in the innovator portal now contains additional information for Outgoing Wire Transfers:

  • Beneficiary name
  • Beneficiary account
  • Beneficiary bank code
  • Reference/description

Most of the above information, apart from the description, was already available in the GET a managed account statement API; this has now been added as well. When retrieving a managed account statement, for records of transactionId.type = OUTGOING_WIRE_TRANSFER, we now share the payment ‘description’ (that was entered by the user when making the payment), under additionalFields = description

Affected APIs:

  • GET /managed_accounts/{id}/statement

Strong Customer Authentication for Sends

As part of our continued compliance with Strong Customer Authentication (SCA) requirements, two-factor authentication will be extended to also include Sends. This can be challenged using OTP via SMS. More authentication methods will be coming soon.

In the meantime we are planning to introduce some exemptions such as the low-value to reduce the number of the challenges required as allowed by the regulation. The exemption will work out of the box.

We will soon be reaching out directly and providing dedicated information to help you upgrade your integration and incorporate SCA processes in your product. In the meantime, you can have a look at our documentation here.