The European Savings Banks Group (ESBG) has welcomed the PSD but warned that the lengthy delays in approving the text could yet undermine the legitimacy of the new Sepa-inspired payment instruments. The ESBG criticised the Directive, in that it risks weakening public confidence in electronic payments by opening the doors to a new category of non-bank ‘payment institutions’. In addition, the Directive strengthens obligations and increases costs for providers of electronic payment services, says ESBG, whilst omitting cash from its scope. Chris De Noose, chairman of the ESBG management committee, says: “An important milestone has been reached but let us be realistic: this Directive alone will not create Sepa. Much rests on transposition and we look for evidence that other stakeholders such as public authorities commit to use the Sepa payment instruments.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more