European authorities are investigating efforts by banks to thwart account access for fintechs mandated by the EU’s revised Payment Services Directive (PSD2), with plans to call on national...
Hong Kong’s financial regulator has urged banks and payment service providers to thoroughly vet fintechs accessing accounts under the territory’s open banking regime, as it suggests a series of...
EU-issued electronic certificates relied upon by third-party providers will still be valid in the UK after Brexit, the Financial Conduct Authority has confirmed.
Regulators have mooted the possibility of beating the ploughshare of open banking into a sword against financial crime, but technical and legal hurdles still stand in the way of authorities’...
Germany’s payments regulator has endorsed a new collaborative effort by the country’s banks and fintechs to cooperate on the rollout of the third-party account access regime mandated by the revised...
Regulators in Malta have told banks to ensure third-party providers operating under the revised Payment Services Directive (PSD2) cannot access data beyond what is necessary to carry out the...
Europol has highlighted the dangers posed by the stuttering introduction of strong authentication and open banking reforms, flagging indecision over delays as a gap to be exploited by fraudsters.
A survey by the Dutch central bank has revealed deep unwillingness of consumers in the Netherlands to grant third parties access to their account data, another thorn in the side of the country’s...
Mexico’s “request to pay” infrastructure is set to launch today, carrying with it hope from authorities that this latest step on the country’s road to payments modernisation will help nudge...
On August 23, 2019, the Australian Competition & Consumer Commission (ACCC) launched testing in which firms are able to express their interest in becoming accredited data recipients under the...
On September 20, 2019, the Bulgarian Ministry of Finance published a consultation on the Draft Law on Amendments and Supplementing Law on Payment Services and Payment Systems (LPSPS). The draft law...
The prospect of instant payments at the point of sale (POS) could pose an unprecedented challenge to the imperious market position held by traditional banks and card schemes, new research has...
Fintech firms that aggregate customers’ account data are complaining that banks’ preparations for new EU-level security rules are “damaging” their businesses.
On September 18, 2019, the Treasury Laws Amendment (2019 Measures No. 2) Bill 2019 was introduced and read for the first time in the House of Representatives. ...
European authorities have said account information service providers (AISPs) do not need to provide services directly to the end user to qualify for authorisation, underlining the divergence...
Finland’s financial regulator has revealed that some of the country’s banks failed to meet requirements on third-party account access that came into effect on Saturday.

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