Swift awarded ESMIG network service provider status
Swift will be supporting its customers through their Target consolidation projects and the migration to ESMIG.
EBA
Finastra Universe London 2017: open banking and the rise of AI
Finastra has revealed its focus on the open innovation of smart technologies in banking, alongside artificial intelligence (AI), machine learning/deep learning.
Open letter to EU decision makers on PSD2 RTS – figo
This open letter from German fintech figo is not about the usual pros and cons of this debate, but intends to provide the European Council with actual solutions, i.e. smart trade-off ideas that could mean an end to the everlasting screen scraping debate and eventually the RTS process.
Fintechs blast banks over PSD2 direct access angst
A group of fintech companies and associations are asking for changes to the second Payment Services Directive (PSD2) due to fears it will force them to become technologically dependent on banks. The coalition of 60 European Union (EU) based entities have signed a seven-page manifesto seeking the European Commission (EC) to make changes to the […]
MyBank seeks participants for Identity Verification Service pilot
MyBank is looking for participants in a pilot phase for its Identity Verification Service to Payment Service Providers and service providers. The pilot will start in mid-November 2015 and run until February 2016. The aim of the pilot is to test the MyBank Identity Verification to ensure reliability, security and the usability of the solution.
Harmonisation of ISO 20022 is crucial – but who should be in charge?
It seems not a day goes by without seeing those three little letters and five numbers – ISO 20022 – appearing in headlines or articles. But hang on a minute, what’s all the commotion about? It’s just another message format that I need to make sure my systems can handle, right?
Pan-European Instant Payment Forum kicks off in Frankfurt
The inaugural meeting of the Open Forum on Pan-European Instant Payments drew 77 representatives from 55 payment service providers, technology providers and other stakeholders to Frankfurt this week to kick off discussions about requirements and collaboration on infrastructure services to support instant payments at a pan- European level.
EBA report sets scene for collaboration on supply chain finance
The Euro Banking Association has published results of research and assessment work on supply chain finance topics and alternative electronic payments, including recommendations on managing financial industry collaboration and partnerships.
The Future of Payments: towards a vision for 2020
While the payments landscape has evolved rapidly over the past decade, due to a flurry of innovation and regulation, expansive growth in electronic payments and the inclusion of new market entrants, industry research indicates that the next decade will be a period of even faster changes.
Special Report: Payments modernisation – the future is happening now
With a revolution in consumer payments happening at the point-of-sale, online and increasingly through the mobile channel, there is a need and an appetite for change across every aspect of the payments industry.
LEI update: hidden costs prevent enthusiastic take-up
Until the world has a definitive Legal Entity Identifier, we are going to have to recognise that piecemeal adoption brings with it significant hidden costs in validating, enriching and mapping for regulatory purposes. If the total number of registered market participants is meant to include all the corporates that trade FX forwards, we are far short.
The battle for benchmarks: divisions in the ranks?
With lots of different regulatory benchmark efforts now underway, the industry could be forgiven for not taking a common stance. With IOSCO issuing final principles, ESMA and the EBA are simultaneously consulting on a European set of principles. Meanwhile the UK is moving ahead with its own reforms.
March deadline for code to tackle fixing of interbank lending rates
European regulators have until March to impose a code of conduct on banks contributing to the creation of the Euribor interbank lending rate benchmark. The deadline is included in recommendations published by the European Securities and Markets Authority and the European Banking Authority following their joint work on benchmark rate-setting processes in the wake of the Barclays Libor scandal and other rate-fixing revelations.
