Latest opinions that Hakan Eroglu has shared on Finextra

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Hakan Eroglu

Advisor

BIS Innovation Hub (all opinions are my own)

Member since

23 Oct 2017

Location

Basel

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Hakan's opinions

The NEW NORMAL in banking and payments has come to stay

Open Banking as an accelerator for digital transformation in times of change The current ongoing pandemic caused by the novel Coronavirus Covid-19 is having a global economic impact – without any doubt. We see the wellbeing of millions being impacted and the health systems reaching its limit. Governments are intervening with drastic measures to res...

20 April 2020 /payments /covid-19 Open Banking

The ambitious path to Open Finance and Open Data ... how Europe is leading the way

Thanks to PSD2 in the EU, and open banking in the UK, Europe has been leading the way with its open banking initiatives. This significant development represents the beginning of a journey to democratise the financial services industry by allowing third parties to access current account transaction information and initiate payments. However, there ...

06 March 2020 Open Banking

The Brazilian way of Open Banking regulation

Open Banking is unstoppable and is being discussed in almost every corner of the world – be it to increase competition, reduce cost, foster innovation or financial inclusion. In Open Banking, banks are opening up customer financial data and banking services to Third Party Providers (TPP) via Application Programming Interfaces (APIs). For sure not ...

14 December 2019 Open Banking

The Asia-Pacific way of Open Banking regulation

With the introduction of the European Union’s PSD2 and Open Banking in the UK, the concept of Open Banking has arrived in Europe and is clearly here to stay. But what is happening in other parts of the world? What can we in Europe learn from these developments? And which initiatives will prevail—whether driven by the regulator or the industry? Asi...

20 June 2019 Open Banking

Berlin Group and the path to PSD3

In the European Union, PSD2 has created an important initial framework for open banking. API standardization is essential for building a fully-functioning open banking ecosystem – and the Berlin Group’s NextGenPSD2 has emerged as the leader among several PSD2 API standardization initiatives that have been launched. Over the past few months, versio...

05 December 2018 Open Banking

The art of Open Banking regulation

Europe made the first steps toward open banking with open banking regulations in the UK and PSD2 for the European Union. As a first mover, the EU introduced PSD2 to increase competition in a payments sector dominated by a few big payment service providers and credit card schemes. Taking Europe as a blueprint, other jurisdictions are now using open...

28 August 2018 Open Banking

The American way of Open Banking regulation

Across the world, the trend towards open banking regulation is clear – and is rapidly gaining traction and momentum. In Europe we’ve seen the launch of PSD2 for the EU and CMA Open Banking in the UK. In Asia Pacific there have been Open API regulations e.g. Hong Kong’s HKMA and Australia's open banking initiatives – followed by upcoming activities...

16 August 2018 Open Banking

Quo vadis PSD2 RTS? A view on EBA’s recent Opinion Paper on RTS implementation

In combination, the EU’s Second Payment Services Directive (PSD2) – and the European Banking Authority’s (EBA’s) related Regulatory Technical Standards (RTS) on Strong Customer Authentication (SCA) and Secure Open Standards of Communication (CSC) –profoundly impact banks' IT systems and business models. They open up banks’ systems to third-party p...

28 June 2018 /payments Open Banking

Choosing the right PSD2 API standard out of the Berlin Group NextGenPSD2 API framework

On 13th January 2018, the second Payment Services Directive (PSD2) came into force. With it – amongst other rules, banks are will be required to open their systems to third-parties and provide interfaces that would allow them to initiate payments, retrieve account information and a conformation of availability of funds. But the regulation leaves ...

18 March 2018 /payments Open Banking

How innovation in security can be a market differentiator for banks in the PSD2 and Open Banking era

The European Union’s revised Payment Services Directive (PSD2) has paved the way for a new era of Open Banking globally. As a result, it will have huge impacts on business models, security mechanisms and innovation in banking. In my recent conversations with banks, a question that has arisen consistently is how security and innovation can go hand-i...

06 February 2018 /security Open Banking