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

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

A Summary of the new Hong Kong Open API Framework, and how it Compares with PSD2

Today, Open Banking is gaining increasing traction globally, through a combination of banks’ internal efforts, market initiatives, and regulations like the EU’s PSD2 and the UK’s CMA Open Banking. Now Hong Kong has also got on board, with the Hong Kong Monetary Authority (HKMA)’s launch of its draft Open API framework. Publication of the framework...

30 January 2018 /payments Open Banking