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Discussion around current trends in regulations for banks globally
Payment Services Directive 2 – better known as PSD2 – has been a hot topic since it came into effect in January 2018, with the EU and many banks vigorously pursuing its development. Businesses have u...
Introduction At the European Banking Authority (EBA) Working Group on APIs under PSD2, a number of market participants raised concerns that there could be a potential mismatch, particularly in the cas...
According to PSD2, the financial institutions that act as ASPSPs should have in place at least one interface for regulated TPPs (including other ASPSPs that act as TPPs) for identification and secure ...
One of the key features of the Revised Payment Services Directive (PSD2) and UK Open Banking is the requirement that all (almost) parties engaged in delivering the account information services (AIS) t...
Usually when a new regulation comes in, its goal is to make things more secure, more private, or more inclusive, but often, at the expense of the service provider or convenient ways of working. For on...
Since the first anniversary of Open Banking earlier this year, I – along with much of the fintech industry – have been questioning the progress of the new regulations, what more we can do to improve c...
A new era seems to have arrived, also in Belgium. Degroof Petercam, one of the "old ladies" in Belgian private and investment banking, has been awarded the lowest possible audit-score by the...
Evidently, there are more and more innovative FinTech startups as well as banks and insurance companies changing the industry landscape by providing new and easy to use applications and solutions. How...
In the compliance and regulation-driven financial services market, we all know that audits are a fact of life. What is perhaps less well-known is that software development is also subject to these au...
In my last article I highlighted the importance for any business handling payment security data to keep it adequately protected by adhering to PCI DSS standards. The consequences for those that do not...
The global regtech market is exploding. By 2023 revenues are expected to be worth $12.3 billion, growing at a compound annual growth rate of 25.4% over the next five years[i]. The pace at which it is ...
Maintaining payment security compliance is key to preserve consumer and supplier trust in a brand. However, the Payment Security Report (PSR) 2018 showed that compliance with the Payment Card Industry...