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Category archive: PSD2

Should there be a PSD3 to really open the market?

Since PSD2 became effective in January 2018, the market has slowly started to act on it. We see that until now only a few banks have published their PSD2 APIs. The main reason for this slow take-up lies in the fact that the RTS (Regulatory Technical Standards), which determine how some of the PSD2 stipulations […]

Banks can save us from the online identity meltdown

This article was originally published on the The Paypers We are increasingly going digital, yet the way we manage our online identity nowadays is largely based on old technology: passwords, rigid authentication procedures, security questions such as stating your mother’s maiden name or sending an image of your passport via e-mail. It is no surprise that […]

Open banking requires enhanced security such as Strong Customer Authentication

In general, there are three factors to identify yourself when making an electronic payment: something that you know (such as a PIN code), something that you possess (such as a telephone) and something that you are (such as a physical characteristic). Under PSD2, the Regulatory Technical Standards (RTS) for Strong Customer Authentication (SCA) requires that […]

Five important steps to become a Third Party Provider following PSD2

We know from our recent discussions with a wide range of market players that many would-be Third Party Providers (TPPs) feel uncertain about why they should become a TPP and if so, what they need to do to best prepare for PSD2, and about whom they can turn to for strategic, as well as technical, […]

Seven key elements for banks to reach full PSD2 compliance

The introduction of PSD2 in January marked the beginning of the emergence of a new eco-system for banks. equensWorldline and Worldline have written two whitepapers to shed light on the changing landscapes for banks and the payments sector. This blog post is about the first whitepaper ‘Time to get practical – a step by step […]

Interview with Gilles Grapinet, CEO Worldline, about PSD2

A PSD2 interview with Worldline’s CEO, Gilles Grapinet, by Norfico. On Saturday 13th January, the long-awaited Revised Payment Services Directive, PSD2, has come into force in all European countries. The PSD2 is probably the most ground-breaking piece of legislation concerning the financial industry ever adopted by the EU. It has been debated endlesslyduring the past […]

Cybersecurity in bank increases customer confidence

The cyber threat, because of its widespread, uncontrolled and transnational nature, is one of the most concerning challenges for all organizations today. The most exposed countries are the Western ones, because they have sophisticated and IT-based critical infrastructures. Looking at the annual Clusit report on ICT Security in Italy there are serious elements of concern. […]

The future? Banks become open ecosystems and collaborate with fintechs

With the introduction of the Payment Services Directive 2 (PSD2), data of the bank customer, after his consent, becomes practically a common good. As of January 2018, banks are obliged to open up bank account details to third parties. This makes the PSD2 perhaps the most disruptive and exciting development in years. This introduction, combined […]

Why it is not wise to waste time with only a few months until PSD2 is the new reality for banks   

With only a few months left before the implementation, it seems that the general opinion about PSD2 can be divided in two sides. On the one hand, there are the banks and consumers who don’t trust companies with bank details. According to research by Accenture, a clear majority of Brits is unwilling to share their financial […]

SIBOS day 3 – How API’s can be the game changer for the financial industry

The panel discussion on the third day of SIBOS revolved around open banking and API’s. It was titled as ‘Disruptive threat or innovative opportunity’. The panel was formed by Jonathan Davey (Executive General Manager, NAB Labs & NAB Ventures at National Australia Bank), Erik Zingmark (Co-Head of Transaction Banking at Nordea), Louise Beaumont (Strategic Advisor, […]