Nocashevents Central Bank of Ireland to skip deadline to implement SCA for e-commerce transactions under PSD2

Central Bank of Ireland to skip deadline to implement SCA for e-commerce transactions under PSD2

The Central Bank of Ireland (CBI) has followed the lead of the Bank of England and announced a delay to the roll out of Strong Customer Authentication (SCA) rules. National regulators have been given additional leeway by the European Banking Authority to extend the September deadline for the introduction of the new rules in order to give firms more time to prepare. E-commerce businesses have warned that more than a quarter of […]

Nocashevents UK’s Financial Conduct Authority to delay enforcement of new EU online payments regulations by more than 18 months

UK’s Financial Conduct Authority to delay enforcement of new EU online payments regulations by more than 18 months

The UK’s Financial Conduct Authority is set to delay enforcement of PSD2’s SCA by more than 18 months, after warnings that the rules would threat online sales, according to Financial Times. New “strong customer authentication” rules, which will require most online payments to go through an extra level of verification to reduce fraud, are due to be introduced in September, but industry groups said that a lack of preparedness would make […]

Nocashevents PSD2: transitional period for strong customer authentication for online card payments in Italy

PSD2: transitional period for strong customer authentication for online card payments in Italy

In accordance with the decisions taken at European level, the Bank of Italy has decided to provide the Italian financial industry additional time to complete the adjustments required by law concerning the security of card-based online payments. The second Payment Services Directive (PSD2) and the related regulatory technical standards set 14 September 2019 as the deadline for the mandatory adoption by banks and other payment service providers of strong customer […]

Nocashevents The international fintech conference - Banking 4.0 has established its Advisory Board. The premieres of the event.

The international fintech conference – Banking 4.0 has established its Advisory Board. The premieres of the event.

Scheduled for November 25 and 26 at the Athenee Palace Hilton in Bucharest, the second edition of the International Fintech Conference Banking 4.0 set its priorities during the first meeting of the Advisory Board. Most of these priorities are innovations for events in this business category – fintech. As the conference focuses on emerging technologies that will change the financial-banking industry (AI, biometrics, blockchain, machine learning, Robotic Process Automation), this […]

Nocashevents The European body representing the interests of payments service providers for merchants calls for 18-month extension to SCA rules under PSD2

The European body representing the interests of payments service providers for merchants calls for 18-month extension to SCA rules under PSD2

The European trade association (EPSM) fears that the uncoordinated delegation of the migration plan responsibilities to national competent authorities will lead to a very heterogeneous situation within the European Union. Therefore, EPSM recommends that „all regions should agree an additional timeframe of 18 months for standard applications, as well as up to 36 months for challenging applications, such as those in the travel and hospitality sector.”, according to a press release. […]

Nocashevents EBA report assesses impact of FinTech on payment institutions’ and e-money institutions’ business models

EBA report assesses impact of FinTech on payment institutions’ and e-money institutions’ business models

Most institutions are adapting their business models to cope with the competitive pressure and embrace PSD2 changes, while some of them may in parallel embrace the positive impact of FinTech. In the medium to long term, a number of factors will define the transformation of institutions’ business models: (i) the progress of Open Banking and APIs, facilitated partially by PSD2, (ii) the level of implementation of innovative technologies and (iii) […]

Nocashevents Tink analysis: Bank APIs not ready for PSD2 deadline. The only way forward is for national authorities to create an extended transition period.

Tink analysis: Bank APIs not ready for PSD2 deadline. The only way forward is for national authorities to create an extended transition period.

Could the poor quality of bank APIs put the success of PSD2 in jeopardy? A Tink analysis finds that none of the tested bank APIs released by the penultimate 14th June deadline meet the quality requirements laid out by PSD2 regulators – potentially creating a “cliff edge” scenario in September that compromises the financial services for millions of consumers. As a third party with a PSD2 license, we’re required to use all […]

Nocashevents Open banking in numbers – insights and data from 270 European bankers. „Compliance alone is a losing strategy.”

Open banking in numbers – insights and data from 270 European bankers. „Compliance alone is a losing strategy.”

Tink’s key findings and insights from their European survey of nearly 270 financial executives. Learn what they see as the threats, opportunities and challenges this open banking movement presents – and what it means for the industry in 2019 and beyond. In May 2019, Tink surveyed financial executives in the following 17 European countries: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Italy, Latvia, Lithuania, Netherlands, Norway, Poland, Portugal, Spain, Sweden, […]

Nocashevents EBA says banks need to increase the quality of their PDS2 APIs

EBA says banks need to increase the quality of their PDS2 APIs

This is the second piece in an ongoing series called Tink Thinks: Inside the EBA, where Tink’s experts explain and comment on the business of the European Banking Authority’s (EBA) PSD2 API working group, which is helping to ease the implementation process ahead of the September deadline. The series Tink Thinks: Inside the EBA is part of a broader public policy effort at Tink to advocate for third-party providers (TPPs), so that […]