Top fintech stories this week – 30 March 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
European Union
FCA welcomes EU agreement on Brexit
Everyone be cool. This is Brexit.
European Commission unveils fintech action plan and crowdfunding rules
How to harness the opportunities presented by tech-driven innovation in financial services.
Happy tenth anniversary to SEPA payment scheme!
Ten facts and figures celebrating SEPA’s achievements.
Immigration in the banking technology industry: a positive story
The banking technology sector suffers from skills shortages and relies heavily on foreign nationals.
SEPA – are we there yet?
The payments industry was dragged kicking and screaming into the single euro payments area (SEPA), but on 28 January 2018, the initiative will celebrate its tenth anniversary. No doubt former doubters will sing its praises.
Wall Street Systems takes European Central Bank to court over tech deal with rival Openlink
How to be a sore loser.
Top fintech stories this week – 22 December 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
European Payments Council report: 2017 payment threats and fraud trends
An overview of the most important threats in the payments landscape.
PSD2: regulation as a catalyst for innovation
PSD2 comes into force on 13 January 2018. It aims to open up the European payments market to greater competition and transparency, but its effect will be more far-reaching, acting as a catalyst for innovation not just in payments, but in the wider financial services market.
Top fintech stories this week – 1 December 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Infographic: use of cash by households in euro area
The European Central Bank (ECB) conducted a comprehensive study to analyse the use of cash, cards and other payment instruments used at points of sale (POS) by euro area consumers in 2016.
Top fintech stories this week – 24 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Interview: Javier Santamaría, EPC – SCT Inst, catalyst for a new world?
It may not provide all the ticks on everyone’s wish list, but the new SEPA Instant Credit Transfer Scheme (SCT Inst) could well be the start of something even more seismic for the European payments sector and also pave the way for a different, more immediate way of conducting business.
Fiorano launches PSD2 solution for banks
Fiorano Software, a specialist in integration middleware and API management, has launched Fiorano PSD2, a solution enabling banks to comply with the European Union’s PSD2 regulations.
White paper: demystifying PSD2
This free white paper discusses the implications of PSD2 from an end-user standpoint.
Instant payments in Europe: a recipe for success
There is intense interest in instant payments (IP) throughout Europe. Domestic schemes are already live in the UK, Denmark, Poland and Sweden. The success of these schemes shows what’s possible but also teaches many lessons.
ECB targets new RTGS platform
The European Central Bank’s (ECB’s) governing council will decide by the end of this year whether to greenlight a new real-time gross settlement (RTGS) system to replace the decade-old Target2 platform.
Instant payments in Europe: moving from theory to practice
We live in impatient times – everyone wants to be able to pay who they want when they want, instantly and regardless of location. The UK has had instant payments since 2008; Faster Payments volumes have exceeded all predictions and now exceed 135 million per month.
ECB Guide: assessments of fintech credit institution licence applications
The European Central Bank (ECB) has published a guide to assessments of fintech credit institution licence applications.
Infographic: banking in Europe 2017 – EBF facts and figures
European Banking Federation (EBF) has published its annual update on the banking sector in Europe. According to the EBF findings, staff numbers and branches in the European banking sector continued to shrink in 2016, while Eurozone deposits and loans grew slightly.
France is not making many friends with new tech tax idea
The French Finance Minister has put forward new proposals to shake-up the tax set-up for technology companies who are based outside of the European Union, reports Telecoms.com (Banking Technology‘s sister publication). Under the current rules, internet giants such as Google or Facebook are taxed on profits which are generated in Europe, though French Finance Minister […]
Euro bureaucrats make M&A power play over frightening foreigners
We all knew Canadians were afraid of the dark and that Scots are not always fond of vegetables, but who knew the European Commissioners were wary of foreigners? Reports Telecoms.com (Banking Technology‘s sister publication). In her latest speech, the European Commission’s chief Gaggler for competition Margrethe Vestager, has seemingly set the tone; foreign money isn’t as […]
How Trump Can Really Reduce Compliance Burdens for U.S. Firms
If President Trump wants to make America great again, there are a few important ways he could bolster the fintech industry and help consumers—from supporting more uniform MSB licensing to reining in UDAAP.
Money20/20 Europe: PSD2 creates more questions than answers
The second Payment Services Directive (PSD2) is creating more questions and issues than the answers it ultimately should offer.
Analysis: MiFID II – the new transparency regime
Having been a fixture on the regulatory agenda for years, the go-live date for MiFID II is now rapidly approaching. On 3 January 2018, the second iteration of Europe’s Market in Financial Instruments Directive and Regulation will bring in sweeping changes to the financial markets on topics such as product governance and suitability, transaction reporting, commodities position limits and transparency.
Screen scraping: in or out?
Amid last month’s extensive ransomware attack, made possible after cyber criminals stole hacking tools created by the US National Security Agency, the European Banking Federation (EBF) again urged the European Commission (EC) not to dismiss recommendations about screen scraping.
Blockchain and Bitcoin round-up: 19 June 2017
Don’t let the blocks cause you too much mental blockage. Our latest blockchain and Bitcoin round-up keeps it ultra-brief. Featuring Ayondo, XBT Provider, Xapo and the European Commission. Financial services firm Ayondo has expanded its product portfolio with the launch of Bitcoin trading, offering access to price movement without the need to open an e-wallet […]
European Banking Federation wants fintech at overclock speed
Responding to the European Union (EU) consultation on fintech, the European Banking Federation (EBF) wants the creation of an inclusive ecosystem and asks for people to get on with it. Earlier this year, the EC called for feedback and said it wanted to prise open national barriers as only 7% of consumers currently buy financial […]
Europe has another go at getting more access to private data
An inevitable consequence of the recent spate of terrorist incidents has been calls for greater access to private data and now the European Commission has joined in, reports Telecoms.com (Banking Technology‘s sister publication). According to a Reuters report the European Union (EU) wants to make it easier for authorities to get hold of private data […]
Is the UK going to be ready for EU GDPR?
With just under 12 months to go until the European Union (EU) imposes new data protection regulations, there seems to be a growing sense of unpreparedness throughout the industry, reports Telecoms.com (Banking Technology‘s sister publication). Perhaps it’s because of the timeframes which were involved for the General Data Protection Regulation (GDPR), or a misunderstanding of […]
Implications of triggering Article 50 on London’s banking sector
Article 50, triggered just nine months after Brexit was officially announced, will give the UK exactly two years to strike a deal with the EU concerning its departure from the economic and trading bloc. What will be the impact of the referendum on the square mile? Will it cease to be the major financial hub this side of the Atlantic?
No EC love for European banks’ screen scraping ban plan
The European Banking Federation’s (EBF) call for the European Commission (EC) to help on a screen scraping ban is not going well. As reported last week, the EBF wants the ban due to concerns over the privacy of client data, cybersecurity and innovation. It wants the EC not to dismiss a key recommendation made by […]
U.K. Makes Official Its Intent to Leave EU
A little after noon in Brussels March 29, a British ambassador delivered a letter to EU Council President Donald Tusk that set the wheels into motion for the U.K.’s exit from the EU. Today’s announcement makes official the results of the historic vote June 23, when 52 percent of voters in the U.K. stunned many around the world when they opted to leave, or “Brexit,” as it’s commonly called.
Infographics: PSD2 explained
This nifty infographics, created by the European Payments Council (EPC), explains all you need to know about PSD2, from what it will change and its key components (such as APIs) to who the new players are.
Five CSDs go live on Target2-Securities
Five European central securities depositories (CSDs) have migrated their respective communities to live operations on the Target2-Securities (T2S) platform using Swift’s value added network (VAN) solution. OeKB CSD (Austria), Clearstream Banking (Germany), LuxCSD (Luxembourg), Centrálny depozitár cenných papierov SR (CDCP) (Slovakia) and KDD – Centralna klirinško depotna družba (Slovenia) all migrated over. These five quickly […]
Clearstream migrates to Target2-Securities; nearly doubles T2S settlement volume
Clearstream Banking Frankfurt and LuxCSD have migrated to the European Central Bank’s (ECB) Target2-Securities (T2S) platform. “The first business day is already in process and runs smoothly,” Clearstream states.
AnaCap to acquire German payments provider Heidelpay
Private equity firm AnaCap Financial Partners is taking over a controlling stake in Heidelpay, an online payment service provider (PSP) in Germany. Heidelpay’s co-founders and existing management will retain a minority stake in the business.
Will an open banking API kill commercial APIs?
The PSD2 directive will let third parties use the information stored in financial institutions and the only path to achieve this leads through an open API. The API is now being discussed and developed, but it’s not clear when it will be finalised, released and deployed.
Bank of Lithuania promises one-week response to fintech licence enquiries
Bank of Lithuania, the country’s central bank and regulator, promises to provide preliminary answers to financial institution licence enquiries within one week, “the fastest turnaround in the EU”.
