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90% of consumers lack confidence in IOT device security
The Internet of Things (IoT) is sometimes also known as the internet of insecure things. Or the internet of other people’s things. So much so 90% of consumers lack confidence in the security of IoT devices, according to a Gemalto survey. This is unsurprising given various high-profile breaches. Smart dolls for children have been hacked [...]
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PSD2 open banking: The ticking timebomb for financial institutions
The overall idea behind PSD2 open banking is not new, Yodlee and others have for a while aggregate accounts, and they have done this through a process known as screen scraping. Now though the world is changing and radically. The first and most important point to make is what has been published by the EU [...]
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European Commission proposes cheaper cross-border payments
The European Commission has announced what the industry sees as a long overdue proposal to make cross-border payments in euro cheaper across the entire EU. Consumers and businesses in the euro area already have benefited from low fees for cross-border payments in euro since 2001. Under current rules, there is no difference for euro area [...]
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PSD2 open banking, who will use it?
The first thing to be clear about is that PSD2 open banking is not the same as UK Open Banking currently live with the CAM9, although not all of them are live! PSD2 open banking applies to anyone who provides a ‘Transactional Account’ and in the UK the FCA defines a transactional account in the [...]
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ECB declines to extend assurances to UK banks for Brexit transition
UK headquartered banks are still planning for a March 2019 departure from the UE after European regulators declined to offer any formal assurances for how business can be conducted during the Brexit transition period. To stop a “cliff-edge” Brexit, banks need formal guarantees from UK and EU regulators that there is no risk of losing [...]
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