Authorities in the UK have taken a major step towards implementing the revised Payment Services Directive (PSD2), launching consultations on the draft text and finalising the open banking framework that will accompany the reforms.
HM Treasury published a consultation paper on Thursday discussing the transposition of PSD2 into national law, while the Competition and Markets Authority (CMA) issued a final order to banks to open up access to account data to third-party providers.
To continue reading...
Our Key Benefits
PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.
We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.
We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.