European banks under siege from digital challengers and sophisticated cyber attackers could face some relief from a possible change in accounting rules that will enable them to spend more on new software.
The European Banking Authority is stepping up its scrutiny of new fintech-related advances in financial services provision, promising to identity and close gaps in supervision.
The European Banking Authority (EBA) launched today a public consultation on its draft Guidelines on reporting requirements on statistical data on fraud under the revised Payment Services Directive (PSD2).
European consumer interest group BEUC has waded into the screen-scraping debate, urging banking authorities to ban the practice in favour of the creation of a harmonised interface for customer data sharing.
The European Banking Authority (EBA) published today its final Guidelines under the revised Payment Services Directive (PSD2), on the criteria on how to stipulate the minimum monetary amount of the professional indemnity insurance (PII) or other comparable guarantee for payment initiation services (PIS) and account information services (AIS).
The Future of European Fintech Alliance – Commenting on EBA’s opinion on the European Commission’s amendments to the RTS on authentication and communication under PSD2
The latest twist in the ongoing row between banks and fintech companies over the future of customer data sharing under the revised Payment Services Directive (PSD2) comes courtesy of the European Banking Authority, which has rejected a proposed amendment to the rules from the European Commission that would have allowed for the continuation of screen scraping.
Trade groups representing over 5000 European savings and co-operative banks have called on the European Banking Authority to reject Commission amendments to the revised Payment Services Directive which would require banks to provide a fall-back interface to screen-scraping technology for third party access to consumer bank data.
The European Banking Authority (EBA) launched today a consultation setting out its guidance for the use of cloud service providers by financial institutions.
European banks say that privacy of client data, cybersecurity and innovation are at risk should the European Commission bow to the demands of fintech firms and backtrack on plans to ban screen-scraping under the revised Payment Services Directive, PSD2.
© Finextra Research 2017