Europe’s opening banking regulation is finally here. After months of preparation across the continent, the Revised Payment Services Directive comes into effect on January 13.
The revised Payment Services Directive regulation, regarded as one of the most disruptive in Europe’s financial services sector, will begin to make an impact on January 13, 2018.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
This year promises to further the regulatory compliance burden imposed on financial institutions. How are firms in the sector responding to the challenge?
Global trends, technology and the role of the treasurer in 2025 were hotly debated by treasurers at this year’s Treasury Leaders Summit in London. A focus on technology and automation was universal, others argued over the impact of macroeconomic and global trends on treasury.
While GDPR and Europe’s revised Payment Services Directive (PSD2) are not contradictory, the fact that the regulators and many banks work on them in silos is problematic, AccessPay executives argue.
In the years following the financial crash, we have seen record fines for those firms failing to achieve regulatory standards. The cost of non-compliance now outweighs anything that might be gained from cutting corners. This means there has been an increasing demand for technology solutions that support compliance, and with it the creation of a whole new specialist sector.
One of the biggest challenges banks and corporates face is identifying their customers so they can comply with Know Your Customer and other regulatory requirements. GTNews spoke with Know Your Customer Limited co-founder, Richard Barrett, about the complexities of KYC and how technology can solve these problems.
The new EU General Data Protection Regulation of the European Union will have a wide impact on how data of EU citizens can be stored – and business are well advised to not take it lightly.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.