Secured Customer Authentication SCA Report

The current project is based on the topic of the Secured Customer Authentication (SCA) that tend to supports and bring a more secure and better way of online payment based on extra protection against fraud when making payments or servicing the online account. The rising need and importance of SCA to safeguard credit card information and maintain higher privacy during online financial transactions were analyzed, along with identifying the key issues and challenges faced by financial institutions and other organizations while carrying out online transactions. Stakeholder engagement, financial implications, conflict management, and workforce skills utilization were also discussed.

Report
Table of Contents

INTRODUCTION...........................................................................................................................1
Organisational / departmental strategy...................................................................................1
Intended project Aim and objective.......................................................................................4
Activities, Resources and stakeholder engagement................................................................4
Analysis of aim & objectives against project outcomes.........................................................8
Limitations/restrictions on the project..................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
The current project is based on the topic of the Secured Customer Authentication (SCA)
that tend to supports and bring a more secure and better way of online payment based on extra
protection against fraud when making payments or servicing the online account (Zhou and et. al.,
2021). Further, the company selected for current project is MasterCard which is a well-known
multinational financial services company operating as global electronic payment and supporting
various online transaction and payments cards. Beside this, current project is focused on analysis
and mitigating the issue of the authentication as well as inaccurate party identification while use
cards and online accounts.
Organisational / departmental strategy
Use of below stated tools and models has been made to analysis the current organisational
situation of MasterCard:
PESTEL
It tends to provide and supports a systematic analysis of key external factors that present
overview of the current market situation of MasterCard
 Political- high level of instability is being seen in the political environment of UK based
on implication of Brexit referendum that is affecting overseas operation of MasterCard
(Madsen and Grønseth, 2022).
 Economic- the spared of the global pandemic of covid-19 is creating a slow sown within
the economy of UK that is creating many challenge and issues for business operation of
MasterCard.
 Social- the dynamic customer perceptive of society of UK is leading dynamic business
environment that is creating regular threats and challenge for MasterCard.
 Technology- continuous advancement is being seen within the technology environment
that is supporting higher creativity and better use of technology to have more secure
authorisation and payment system for MasterCard.
 Environmental- a higher implication and focus towards use of eco-friendly business
practises is being seen in the environment of MasterCard.
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 Legal- a change and modification within financial transaction and law related with
payment to EU country is being seen that is creating complexity for business operation of
MasterCard.
SWOT
This model tends to present and reflect about the key internal strengths and weakness of
the company along with possible opportunity and threats.
Strengths Weakness
 Vast presence is the greatest strength of
MasterCard that is currently operating
in more than 210 countries of world.
 Positive brand image is also a strength
(Büyüközkan, Havle and Feyzioğlu,
2021).
 Safe and secure transaction based on
effective tech solution and
authentication.
 MasterCard tend to operates at four
party system that is its biggest
weakness comprises security of its
payment system.
Opportunities Threats
 Improvement in technology is creating
opportunity through supporting more
security and authorisation for
customers
 Brexit
 Covid-19
VIRO
The VRIO analysis of the MasterCard has been provided as below:
RESOURCES VALUABLE RARE INIMITABLE ORGANISABLE COMPETITIVE
ADVANTAGE
Brand
Image
Brand
image - - -
Temporary
Competitive
Advantage
Service Product Product - - Temporary
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quality Quality Quality Competitive
Advantage
Innovation
Capabilities
Distribution
Network
Distribution
Network
Distribution
Network -
Sustainable
Competitive
Advantage
Human
Resources
Human
Resources
Human
Resources
Human
Resources
Human
Resources
Potential
Competitive
Advantage
 Valuable resources- These are resources that are actually accessible with the
organisation that have a high level of significance and also quality, and since MasterCard
is such a large company, its most precious asset is the service quality it provides to its
customers.
 Rare resources- These would be resources that are both valuable and difficult to come
by, and MasterCard Company must take special care of them in order for them to create
value to the business in the long run.
 Inimitable resources- These are resources which are extremely difficult to duplicate, and
MasterCard must keep track of them in order to help the business expand.
 Organisable resources- These were all assets that are structured according to a set of
rules, and MasterCard places a high value on them.
Horizontal scanning
It tends to supports and provide a systematic examination of the information to identify
and analysis the possible risk and threats along with the emerging issues and opportunities. It has
been seen and analysed that the rising level of uncertainty created by the Brexit and Covid-19 are
the key tarts and emerging issues which are being currently faced by the MasterCard (Pawlicka
and et. al., 2021). Along with this, the changes and modification made within the laws and
payment within the companies having headquarter in EU is also creating higher complexity and
issues for MasterCard. Further, it has been seen that improvement in the ethnology and rapid
innovation in terms of software offering more secure way of online payment and customer
authorisation is accreting opportunities for the MasterCard.
Thus, the current organisational situation of MasterCard is supporting the undertaking of
current project based on the concept of the Secured Customer Authentication. The significance
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of current project for MasterCard comprises of fact that it helps in mitigating the security threat
and also supports the better use of the Secured Customer Authentication (SCA) to safeguard
credit card information and maintaining higher privacy during online financial transaction.
Intended project Aim and objective
The main aim of the current project is, “To analysis about the concept of the Secured
Customer Authentication (SCA) along with analysing its rising needs and importance to
safeguard credit card information and maintaining higher privacy during online financial
transaction.
Objective
 To review about the concept of the Secured Customer Authentication.
 To identify the key issues and challenges faced by the financial institution and other
organisation while carrying out online transaction.
 To analysis the rising need and importance of the Secured Customer Authentication
(SCA) to safeguard credit card information and maintaining higher privacy during online
financial transaction.
 To ensure the effective implementation of Strong Customer Authentication (SCA), which
will apply to VISA in the European Economic Area (EEA) and the United Kingdom
following the Brexit transition period.
Questions
 What is meant by the concept of the Secured Customer Authentication?
 Which can be the key issues and challenges faced by the financial institution and other
organisation while carrying out online transaction?
 What are the rising need and importance of the Secured Customer Authentication (SCA)
to safeguard credit card information and maintaining higher privacy during online
financial transaction?
Activities, Resources and stakeholder engagement
It is important to engage with stakeholders during completion of a research project. It is an
essential activity as it ensures that the interest of various stakeholders related to the research
project at being considered while making important decisions so that the research is completed
which satisfactory results for each stakeholder and does not cause any kind of ethical harm do
the stakeholders of the investigation. My personal role in the investigation was authorization of
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the terminal assist to understand the impact unimproved transaction and reduction of fraud. I was
able to complete my role in the investigation effectively by using various time management skills
and tools. In addition to this I stored the data I collected unused for completing the investigation
digitally by making sure that it is protected from any outside leak or cyber security issue so that
it can be utilized in the investigation effectively.
Financial implications
Cost benefit analysis is defined as a systematic method for quantification and comparison
between the total cost to the total expected rewards of undertaking a specific project. Cost benefit
analysis plays an important role in understanding the financial implications of a project because
It helps weigh up project costs against benefit so that the actions which will provide the most
visible outcome can we identify. I utilised cost benefit analysts during this project so that I am
able to ensure that financial decisions regarding the project provide effective results.
Able to manage conflict
Conflict management plays an important role in successful completion of a research project
cause it helps ensure that each contributor is able to coordinate and collaborate without any kind
of conflict so that each activity related to the research project is completed in a timely manner
and every individual finishes their roller in responsibility effectively. How did last different
conflict management strategies in order to ensure that any kind of contract is resolved during the
project and there is no compromise in context of timely completion of the project or its quality.
Manages partnerships, people, and resources effectively
People management is essential when completing about various project because it involves
interacting with various internal as well as external stakeholders. I applied my people
management skills such as interpersonal skills and communication skills to ensure that research
resources an effectively utilised and partnerships with different stakeholders are maintained
through the completion of the project to measure and deliver quality outcomes.
Understands competitive strategies and entrepreneurialism, approaches to effective
decision making, and the use of big data and insight to implement and manage change
In context of undertaking a research project decision-making plays an important role. In addition
to this effective understanding of entrepreneurial and competitive strategies is also needed to
ensure that different tasks related to the project are completed with high quality. During the
completion of the investigation my topic was based on secured customer authentication with the
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children organisation MasterCard. During this work based project my rule was data analysis
authorisation to understand the impact on approved transaction and reduction of fraud. I utilise
different approaches to decision-making search as rational and naturalistic decision-making
process to ensure that I am able to apply my knowledge related to entrepreneurship and
competitive strategies to implement and manage change during the project.
Oversees financial strategies/management, results and setting organisational budgets
Effective financial management is critical to effective completion of a work based project
because financial resources are the lifeblood of a research project Anne are used for particular
resources necessary for completing the project. I prepare suitable budget for completion of this
work based project which included different items such as Internet connexion and stationary to
ensure that I am able to repair a high quality project with my available financial resources being
optimally utilised. This has helped me ensure better financial management of the project so that I
am able to get positive results from my effort into this project in a timely manner.
Challenges financial assumptions underpinning strategies
Completion of a research project involves taking several financial a assumptions which underpin
strategies of the research. By completing cost benefit analysis I also engaged in making financial
assumptions during completion of the research. In order to limit the barriers and tax introduced
by financial assumptions taken during the investigation are utilised financial risk management
techniques to ensure that any of such challenges are eliminated effectively. Some of the financial
risk management strategies which has helped me reduce the challenges of taking financial
assumptions underpinning financial strategies include loss prevention and direction by analysing
identifying and accepting financial threats.
Leads and influences people, building constructive working relationships across teams,
using matrix management where required
Matrix management is defined as the type of management which focuses on individuals
reporting to more than one supervisor or leader. Bring the completion of this work with project
are utilised the concept of matrix management to effectively engage with different stakeholders. I
focused on implementing the matrix management practises but ensuring that different
stakeholders have to collaborate and report to each other so that the quality of the project is not
affected and each of the stakeholder interests are maintained throughout the completion of the
work based project. With the help of this project I have been able to develop constructive
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working relationship with different individuals including stakeholders which has helped me
enhance my interpersonal and communication skills.
Ensures workforce skills are utilised, balancing people and technical skills and encouraging
continual development
The role related to work first project was divided to individuals according to their skills and
abilities. It is important to ensure that different individuals are given book an resources according
to their skills and expertise in specific area as a chance to ensure that various resources are
utilised in an effective manner and each individual is able to bring their own expertise to the
project so that the quality of the project is improved by significant standards. Because my role
for the work based project was related to my skills and knowledge about secured customer
authentication I was able to utilise my resources and skills effectively to complete the project in a
timely manner. In this way I was able to utilise my workforce skills and balance my technical
skills right ensuring continuous development of the project to get higher quality results.
Understands large scale and inter-organisational influencing and negotiation strategies
Multinational businesses with international business enterprises and large scale expansion are
effected by inter organisational influences. In this case inter organisational influences refers to
influence me by any external organisation including computing firm or any separate firm outside
their industry which can affect the future and current rules of the organisation. multinational
business organisations also collaborate with other businesses for completion of specific business
related projects which support growth and improvement of the company such as research and
development or business expansion. In this case and negotiation strategies are used to ensure that
any kind of injury only has positive impact on the company and like do impact is minimised.
Completing research on the specific organisation master card I have been able to understand that
multinational businesses are affected by international influences during their project and
negotiation strategies are applied by businesses in order to ensure that any negative impact of
such influences is reduced to a minimum.
Advocates the use of good practice within and outside the organisation
Maintaining effective working practises essential for achieving better quality deserves whether it
comes to business activities are research activities. Management when based on good practise
not only supports high quality results but also ensures that any kind of threats or challenges are
identified and mitigated appropriately in order to get the best result out of every effort an activity
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which is completed. In order to adopt effective management practises for completing the work
based project I have identified my main strengths and weaknesses so that I am able to deliver
better quality results. In addition to this I also ensured that I collaborate with others to pursue and
share knowledge so that the project can be improved. this help me advocate the usage of great
practise for completing the investigation and ensuring their tag quality results achieved without
any compromise on timely completion and standards of accuracy.
Analysis of aim & objectives against project outcomes
The key performance indicator is defined as a measurable value which help indicate the current
performance of a specific project and helps to monitor the progress of a project so that smart
decisions can be taken about the direction of all current projects. It is used by businesses to
monitor all kinds of business projects and activities. In context of the current work based project
different key performance indicators were utilised to monitor aims and objectives against project
outcomes. In context of the respective project the financial key performance indicator which was
used to assist the financial outcomes of the project against its aims and objectives was budget
variance and stakeholder satisfaction. The term budgetary variance refers to the accuracy and
reliability of budgeting in comparison to the research outcome. In case of the respective project
the budget was created and implemented perfectly which provided high quality outcome with
attainment of aims and objectives. On the other hand stakeholder satisfaction was also achieved
which were the shock is this was defined in changers from the project. After this the two key
performance indicators selected for measuring the conceptual end strategic success of the project
include on time completion percentage milestone on time percentage and resource capacity
percentage. In case of the respective project all these key performance indicators short positive
results when comparing the aims and objectives of the project from the results as it was
completed in a timely manner fit timely attainment of milestones and optimal utilisation of
different resources including physical human and financial resources.
Impact measurement, KPI’s, data analysis
By analysing data gathered with the help of key performance indicator and comparing the results
outcome from aims and objectives it is determined that the project was completed in a timely
manner with high. On time completion percentage milestones on time percentage and resource
capacity percentage. In addition to this planned versus actual budget variance also shows positive
results in terms of their respective project as there is not much budget variance and high quality
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results were delivered without exceeding the predetermined budget amount for various activities
and purchases. Finally on the objectives of the research were also achieved with effective
answers provided for each research question so that the overall aim of the work based project is
achieved. This was completed with the help of key performance indicators which helped ensure
that each and every activity of the project is monitored so that accurate results are attained in a
timely manner.
Able to undertake research, and critically analyse and integrate complex information
Conducting research requires collecting analysing interpreting and storing complex data in order
to understand each and every topic related to the investigation. A successful research project is
completed with the help of complex information and the ability to organise and integrate the
complex information so that accurate conclusions can be drawn and research objectives as well
as research questions can be answered. I was able to undertake the work based project and
critically analyse the data collected on the topic of secured customer authentication by using
different data analysis techniques such as secondary data analysis. In addition to this I was able
to ensure that the information is integrated in the work based project but ensuring that secondary
and primary data is effectively analysed and organised so that it can be understood easily by the
reader.
Oversees financial strategies/management, results and setting organisational budgets, and
challenges financial assumptions underpinning strategies
Financial management is essential for utilising various resources in an effective manner as it
helps which is the correct tools equipment and resources for the project and create a budget
which delivers quality result in a timely manner without over expenditure on any specific area of
the project. In context of the specific work based project financial management strategies were
applied in order to get better results and ensure that the lifeblood of the project which are the
financial resources are implemented in an effective manner. I created budget and utilised key
performance indicators performance of the project and ensure that the financial resources are
being utilised in an effective manner without reducing the quality of the project or reaching over
budget. This supported me in completing the project within time without the stress of teaching
over the budget all making unnecessary expenditures on specific area which leads to reduction in
quality of other area of the work based project. I also ensure that challenges related to financial
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management are eliminated by using different risk mitigation methods such as transferring risk
and risk sharing.
Is accountable for decisions based on relevant information
Decision-making during the work based project was quite difficult for me as I had to utilise
different tools and methods to monitor the progress of the project and make decisions on spot in
order to ensure that different might sounds of the project achieved in a timely manner. When it
comes to research decision-making is a complex and time consuming classes because it requires
to look at different variables in perspectives related to a specific problem in order to determine
the most practical solution from the problem and implemented effectively to get the desired
results. Add adopted different key performance indicator to monitor the progress of the work
based research and utilise the information to make effective decisions during different points of
completion of the research so that the quality of the research is not affected in anyway and it
maintains high standards in terms of strategic conceptual and financial performance.
Uses financial data to allocate resources
I used financial data I gathered with the help of key performance indicators to ensure that
resources are being optimally utilised whether it includes physical resources or financial
resources and ensure that the investigation will be completed under the planned budget.
Limitations/restrictions on the project
Completing a research project is a complex task because it involves looking at different factors
associated with the topic and collecting relevant data which needs to be then analysed organised
an interpreted in an effective manner to attain the research objectives and aim. I faced many
barriers while conducting my work based project on the topic of secured customer authentication
with the company being MasterCard. The main problem I faced while completing my work
based project was deleted to poor time management. Completing such a detailed investigation
which requires profound research on several different topics related to the primary topic of
secured customer authentication required focus and direction which I was not able to prepare for
and lowered my time management capabilities. In addition to this I also face challenges related
to storing and protecting data digitally which increased my difficulties in data management as I
was not able to access and effectively utilise the large amount of information I had gathered for
completing the work based project.
Complexity and uncertainty
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Looking back at the project I feel that the main aspect of the project which did not go as I
planned for was time management. Initially I faced various difficulties managing time which also
increase my stress about timely completion of the project. This also affected my focus on areas
of the project with which I am somewhat familiar and I was not able to deliver quality content
related to the work based project. In order to reduce this challenge I focused on utilising different
time management tools such as 40 time management to complete the project.
Recommendations for your organisation
The main recommendation for MasterCard is to improve brand image of the company amidst
Brexit and COVID-19. In addition to this another recommendation which is suitable for the
company is to seek the opportunity in technological development by supporting more security
and authorization for customers. In the current age of this dictation security is the biggest area of
concern for individuals who are utilising financial service from any enterprise.
Sets a clear agenda and gains support from key stakeholders
Stakeholder management requires developing a clear focus of direction state each stakeholder is
assured that their interest will be considered while completion of the project and they will get
effective results. I was able to set clear agenda for each of the stakeholder to ensure that
coordination between different parties is maintained and effective results are provided to every
stakeholder of the project.
Able to manage conflict. Manages partnerships, people and resources effectively, and
measures outcomes
The main purpose of conflict management is to increase harmony and ensure that the main
objective of a team task is attained without any major barriers reducing the speed efficiency or
quality of the task. Application of different conflict management strategies and methods help me
improve partnership with different stakeholders and individuals while also optimally utilising the
available resources so that I am able to deliver higher standard results for each of the area of the
work based project.
Acts where needed as a Sponsor, championing projects and transformation of services
across organisational boundaries
I was able to champion the completion of this work based project in a timely manner but utilising
different tools techniques including this management key performance indicator and initial
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management and reflective practise bullet back at the process of the project and ensure that it
continues to progress until each reaches maximum level of quality.
Demonstrates flexibility and willingness to challenge when making decisions and solving
problems
Completing research projects requires certain amount of flexibility as individuals have to prepare
for different challenges they encountered during undertaking a research project, Looking back at
the experience in completing the research work based project I understood that I initially faced
time management challenges but I was able to overcome this challenge to my flexibility to learn
new tools and techniques. In this way I was able to showcase flexibility and willingness to
challenge during decision making and problem solving so that better results can be attained for
each area of the work based project.
Manages complexity and ambiguity, comfortable in uncertainty, pragmatic
Complexity and ambiguity are some common concepts which I finished by a researcher on a
daily basis because they have to look beyond the current perceptions and utilise the element
information to completely understand a specific topic and attain research objectives related to the
area of investigation. In context of my specific project I was able to deal with complexity and
ambiguity by ensuring that different tools techniques and methods are utilised for eliminating
challenges and planning more effectively So that ambiguity and complexity related to dealing
with the work based project is minimised and quality of the project is enhanced.
Advocates the use of good practice within and outside the organisation
I advocated for the usage of good practise within the research by ensuring that suitable
techniques and tools are used for informing data collection analysis and storage along with
management of financial resources strategy and concept formation.
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