EBARSS

Open letter to EU decision makers on PSD2 RTS – figo

figo open letter

This open letter from German fintech figo is not about the usual pros and cons of this debate, but intends to provide the European Council with actual solutions, i.e. smart trade-off ideas that could mean an end to the everlasting screen scraping debate and eventually the RTS process.

Analysis: outsourcing to the cloud – EBA’s recommendations

Tim Wright, Pillsbury

The European Banking Authority (EBA) recently opened a consultation on its draft recommendations for financial institutions outsourcing to cloud service providers across all cloud-related domains including infrastructure, platform and software as a service.

Screen scraping: in or out?

Regulation, regulation and more regulation

Amid last month’s extensive ransomware attack, made possible after cyber criminals stole hacking tools created by the US National Security Agency, the European Banking Federation (EBF) again urged the European Commission (EC) not to dismiss recommendations about screen scraping.

No EC love for European banks’ screen scraping ban plan

land area in Europe the night

The European Banking Federation’s (EBF) call for the European Commission (EC) to help on a screen scraping ban is not going well. As reported last week, the EBF wants the ban due to concerns over the privacy of client data, cybersecurity and innovation. It wants the EC not to dismiss a key recommendation made by […]

Fintechs blast banks over PSD2 direct access angst

European Commission

A group of fintech companies and associations are asking for changes to the second Payment Services Directive (PSD2) due to fears it will force them to become technologically dependent on banks. The coalition of 60 European Union (EU) based entities have signed a seven-page manifesto seeking the European Commission (EC) to make changes to the […]

PSD2 and the future of payments

Jacqui Hatfield, Reed Smith

Banks need to do more than just comply with the upcoming revised Directive on Payment Services (PSD2). To survive, banks will need to embrace these changes.

The European Banking Authority favours arbitrary box-ticking over data innovation

cyberecurity

The European Banking Authority (EBA) recently proposed new rules that would require payment card operators to enforce additional security measures, such as passwords or security tokens, for all online transactions over €10, aimed at fraud prevention. This is a clumsy solution to a problem that is already being addressed by far more sophisticated means, argues Nick Wallace, senior policy analyst at Centre for Data Innovation, and policymakers should reject the EBA’s proposal.

Shedding light on shadow banking reporting

Selwyn Blair-Ford, Wolters Kluwer

We take a look at the new EU reporting requirements for managing exposure to shadow banking. There are plenty of challenges ahead, not least for the systems that will need to be updated to ensure that firms are able to adequately cope with the new guidelines.

MyBank seeks participants for Identity Verification Service pilot

MyBank is looking for participants in a pilot phase for its Identity Verification Service to Payment Service Providers and service providers. The pilot will start in mid-November 2015 and run until February 2016. The aim of the pilot is to test the MyBank Identity Verification to ensure reliability, security and the usability of the solution.

Harmonisation of ISO 20022 is crucial – but who should be in charge?

Barry_Kislingbury_t #1FB2AF

It seems not a day goes by without seeing those three little letters and five numbers – ISO 20022 – appearing in headlines or articles. But hang on a minute, what’s all the commotion about? It’s just another message format that I need to make sure my systems can handle, right?

@banking
techno