Latest opinions that Dmitrii Barbasura has shared on Finextra

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Dmitrii Barbasura

Chief Operating Officer

Fintech Galaxy

Member since

29 May 2019

Location

Uae, Dubai

View Dmitrii Barbasura's full profile

Dmitrii's opinions

Jordan’s Regulation of Open Finance Services: Trailblazing the innovative path

At the end of November, The Central Bank of Jordan (CBJ) issued instructions governing Open Finance services by all banks operating in the Kingdom, as well as online payment and money transfer companies subject to the bank's supervision and control, marking the new era of enhanced, seamless, and enjoyable financial experiences. The last couple of ...

17 January 2023 /payments /regulation Online Banking

Open Banking challenges in MENA region: Measuring success.

Open Banking is steadily penetrating most of the world’s regions and MENA is no exception. With the majority of the region’s population being young and demonstrating one of the highest rates of smartphone usage globally, saying that this region is more than ready to fully welcome Open Banking sounds like an understatement. The last couple of year...

14 September 2022 /regulation /markets Online Banking

Why open banking APIs are so different

Open banking comes with a lot of expectations and promises, such as democratisation of Access to Account (X2A), increased competition between banks and fintechs, and provision of better control to end-customers over their financial data and payments. To facilitate the adoption of open banking, several API standards incentives were created includin...

28 April 2021 /regulation /retail Banking Regulations

6 key pillars that make open banking actually work

This is the second article from the series about the value of open banking and the rules it comes with. In the first article we have discussed the value of open banking and the benefits it brings to each market player. Today, we are going to discuss criteria that have to be respected to create perfect conditions for open banking to function in har...

25 February 2021 /regulation /retail Open Banking

The value that open banking brings to each market player

This article is part of a series about the value of open banking and the rules it comes with. Open banking fundamentally changes the landscape of the modern financial sector, stimulating all types of companies to release new services and making traditional banking products simpler, and more convenient, while removing additional costs. Open banking ...

08 September 2020 /regulation /retail Open Banking

Why PISPs should not be required to perform AML checks toward PSUs

According to PSD2, a payment initiation service provider (PISP) represents a payment institution, and thus falls under the Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) regulations. Yet, for many market participants the setup of these checks from PISP’s side is not clear. I think this is an interesting topic that hasn't been explo...

08 January 2020 /regulation Digital Identity Management

TPP identification via non-dedicated PSD2 interfaces

According to the RTS on SCA and CSC (Article 34. Certificates), payment service providers shall rely on eIDAS certificates for third party providers’ (TPPs’) identification. There are 2 types of PSD2 eIDAS certificates and each of them plays an important role: QWAC (qualified certificate for website authentication) - is used for website authenti...

21 August 2019 /regulation /retail Banking Regulations

Working with Technical Service Providers under PSD2

According to PSD2, regulated TPPs are allowed to access banks’ PSD2 interfaces. TPPs can choose whether to integrate with banks on their own or to rely on an aggregator - Technical Service Provider (TSP). Regardless of the chosen method, TPPs should identify themselves toward banks for security and traceability reasons. According to PSD2, such ide...

30 July 2019 /regulation Financial Services Regulation

Non-dedicated interface - is it really worth cutting costs now?

This is the second piece from a series of articles about non-dedicated PSD2 interfaces. While the first article lists the requirements imposed upon PSD2 interfaces and how banks can implement these, the second article covers the challenges of launching and maintaining a non-dedicated interface. In regards to technical requirements, there is no muc...

23 July 2019 /regulation Banking Strategy, Digital and Transformation

The requirements for non-dedicated PSD2 interface and how ASPSPs can meet them

This is the first piece from an upcoming series of articles about non-dedicated PSD2 interfaces. The scope of these articles is to describe to EU-based ASPSPs that have chosen to provide a non-dedicated interface - what are the requirements, how to meet them, and what are the potential challenges. This first piece will cover the requirements legal...

09 July 2019 /regulation /retail Banking Regulations