Connectivity is changing the world and the way we interact with one another. Last year, figures showed that the global population owned around 6 billion connected devices, approaching one for each of the 7 billion people on the planet. But, even more remarkably, some estimates suggest this figure will rise to 20 billion by 2020 [...]
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Open innovation is undoubtedly one of the drivers behind PSD2. However, the trend towards open banking and APIs is a global one that goes beyond European legislation. And effects more than just technology or IT departments within banks. In the last blog Open for business? I looked at parallels between the telecoms and financial services [...]
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Banking has always been a very conservative industry. If liquidity drops too low, entire markets can grind to a halt. Open yourself up too much and you become susceptible to fraud and theft. Striking the perfect balance is difficult. In every economy, one of the government’s primary concerns is securing a steady flow of money [...]
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On 23 February, the European Banking Authority (EBA) announced its intention to outlaw screen scraping in one of their Regulatory Technical Standards (RTS) complementing the revised Payment Services Directive (PSD2), set to come into force in January 2018. Screen scraping sounds sinister. In fact, it simply refers to the practice of automating any internet browsing [...]
The post The EBA is wrong about screen scraping — and it’s going to hurt European FinTech! appeared first on Payments Cards & Mobile.
In less than a year the revised Payment Services Directive (PSD2) will be implemented in European Union (EU) Member States. The Second Payment Services Directive (PSD2) is a fundamental piece of payments-related legislation in Europe, which entered into force in January 2016. PSD2 is the product of a review of the original Payment Services Directive and [...]
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