Latest European Banking Authority (EBA) News: Finextra Research

Banks cite cyber security and outsourcing as operational risk concerns grow

More than half of European banks foresee an increase in operational risk as the fintech revolution brings concerns about cyber-security, IT failures and outsourcing problems to the fore, according to research from the EBA.

28 November 2017

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New EC rules could enable banks to increase their software spending

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.

06 September 2017

/regulation

EBA reviews regulatory regime in light of fintech

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.

07 August 2017

/regulation

Consumer groups and fintech firms at loggerheads over screen scraping

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.

11 July 2017

/retail

EBA rejects Commission amendments on screen scraping 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.

30 June 2017

/regulation

European savings and co-operative banks join screen-scraping row

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.

26 June 2017

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European banks lobby Commission to push ahead with screen scraping ban

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.

16 May 2017

/regulation

EBA to relax controversial PSD2 authentication rules

The European Banking Authority is to relax proposed rules on a requirement for strong customer authentication for all payments under EUR10, after being on the receiving end of a volley of complaints from industry participants who claimed that the mandate would lead to more declined transactions and abandoned purchases at the checkout.

21 February 2017

/regulation

EBA bends under weight of PSD2 mandates

The European Banking Authority is struggling to keep pace with the timetable for the delivery of Regulatory Technical Standards (RTS) for the revised Payments Services Directive (PSD2), after being overwhelmed by the large volume of responses to market consultations.

07 December 2016

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EBA told that tougher authentication will have a "chilling" effect on single market

A cross-industry letter signed by 39 European and national organisations in the payments value chain has hit out at European Banking Authority (EBA) plans to toughen up authentication rules for online transactions under the revised Payments Service Directive (PSD2).

28 November 2016

/retail

Visa slams European plans for stronger online transaction authentication rules

Visa has lashed out at European Banking Authority (EBA) plans to toughen up authentication rules for online transactions over EUR10, claiming that they will lead to more declined transactions, complicated checkouts and abandoned purchases.

22 November 2016

/regulation

EBA responds to EC's virtual currency AML plans

The European Banking Authority (EBA) has called on the EC to postpone plans to bring virtual currency exchanges and wallet providers under the scope of a new Anti-Money Laundering Directive.

12 August 2016

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