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PSD2 and Instant Payments to drive a 37% decline in online card volumes
A new study from Ovum, has attempted for the first time to quantify the detrimental effect Instant Payments and PSD2 will have on traditional credit and debit card payments. Instant Payments, PSD2, frictionless payment,e-commerce, The research “Instant payments and the post-PSD2 landscape”, commissioned by Icon Solutions, publishes the only quantitative insights into how PSD2 will be the [...]
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Banks to face fines totalling €4.7bn in first three years under GDPR
A new report from Consult Hyperion, forecasts that European financial institutions could face fines totalling €4.7 billion in the first three years under the new General Data Protection Regulation (GDPR). This forecast is conservative and excludes compensation claims, costs associated with lost customers, damaged reputations and senior executive resignations. The report, commissioned by AllClear ID titled, GDPR: [...]
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PSD2 and Risk Based Authentication: The Issuer Story
Issuers have been using Risk Based Authentication (RBA) to great success for some time now. With new legislation coming in, there is confusion in the market about what RBA means for issuers and how it can be implemented under the new rules. In this webinar, we hear unique insights from Visa and Cardinal around the [...]
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Atom bank cites regulatory uncertainty – postpones current account launch
Atom bank, the UK’s first app-based bank, is reported to be delaying the launch of consumer current accounts until at least 2018. Atoms CEO blames forthcoming regulations that make the UK’s personal banking market too “ambiguous and uncertain”. The digital-only lender, which has amassed close to £500m in loans and almost the same amount of deposits since its launch in [...]
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The role of analytics in the new open banking age
What is a bank? The definition is in flux. As the regulatory-driven Open Banking agenda powers innovation and accelerates the fragmentation of a heavily concentrated banking market, incumbent banks must act quickly to stay relevant. As customers look far and wide to satisfy their financial needs, some are questioning the need for a bank at [...]
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