The European Commission is investigating whether banks are deliberately preventing non-bank competitors from gaining access to customer account data.
The European Commission is proposing to reform financial supervision across the EU with a renewed focus on new technology developments and the promotion of the emerging fintech sector.
On 13 September, in his annual State of the Union Address, President Jean-Claude Juncker stated: "In the past three years, we have made progress in keeping Europeans safe online.
Conversations are ongoing between the European Commission (EC) and the European Banking Authority (EBA) around the Regulatory Technical Standard (RTS) for Strong Customer Authentication (SCA) under the Payment Services Directive 2 (PSD2), specifically with regards to “screen scraping”.
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 Commission has taken another step in its long-running tussle with Visa over interchange fees, turning its attention to the fees merchants in the EU must pay on transactions involving cards issued outside of the region.
The European Commission is planning a crackdown on the high costs associated with cross-border currency transfers in and out of the euro.
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 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.
© Finextra Research 2017