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Digital Identity Key To Open Banking Success, U.S. Lawmakers Told
13th Sep 2019 | Written by:
A comprehensive fix for digital identity would be a vital step towards making open banking in the U.S. a success, according to a panel of experts called before lawmakers on Thursday.
Australia: Treasury Laws Amendment (Consumer Data Right) Bill 2019
12th Sep 2019 | Written by:
On August 15, 2018, the Treasury of the Australian government launched a public consultation on the draft Treasury Laws Amendment (Consumer Data Right) Act 2018, which aims to establish a new...
Austria Grants Open Banking Delay Over 'Deficient' APIs
12th Sep 2019 | Written by:
Austria regulators have announced they will delay enforcement of impending account access reforms and allow screen scraping to continue, in a last-minute reprieve for third-party providers.
What Does The New-Look European Commission Mean For Payments?
11th Sep 2019 | Written by:
Fintech, cryptocurrencies and protection against US sanctions were placed at the heart of the financial services agenda of new European Commission chief Ursula von der Leyen yesterday as she...
PSD2: Account Aggregators Still Struggling With UK Licensing Regime
9th Sep 2019 | Written by:
A legal quirk in the UK’s open banking legislation is creating problems for account information service providers (AISPs), which are being forced to find licensing workarounds despite years...
India: Ministry of Finance Recommends A Series of Regulatory Developments for Fintech
6th Sep 2019 | Written by:
On September 2, 2019, the Ministry of Finance published a report by the steering committee on fintech-related issues. ...
FCA Details Six-Month Enforcement Delay For Open Banking Reforms
4th Sep 2019 | Written by:
The UK’s Financial Conduct Authority (FCA) has formally announced it will hand a lifeline to third-party providers by delaying enforcement of account access rules for six months beyond September’s...
Brazil’s Attempts To Speed Open Banking Spark Liability Concerns
3rd Sep 2019 | Written by:
Banks in Brazil are wary of attempts by regulators to speed up the introduction of open banking, citing concerns over liability if third parties place customer data at risk.
Vietnamese State Bank, Australian Department of Foreign Affairs and Trade and Asian Development Bank Sign Agreement on Development of Financial Sector and Financial Inclusion
27th Aug 2019 | Written by:
On August 23, 2019, the State Bank of Vietnam (SBV), the Australian Department of Foreign Affairs and Trade (DFAT) and the Asian Development Bank (ADB) signed a memorandum of understanding (MoU) on...
Fintechs Plea For Open Banking Delay, Claim Bank APIs Still Failing
23rd Aug 2019 | Written by:
Swedish fintech Tink has written to regulators across Europe pleading for flexibility around next month’s open banking reforms, claiming its latest survey of banks shows there is not a single...
Greece: National Bank Publishes Form for Financial Institutions Requesting Exemption from Contingency Mechanism
22nd Aug 2019 | Written by:
On August 19, 2019, the National Bank of Greece published a form that credit institutions, payment institutions and e-money institutions wishing to be granted an exemption from the fallback...
UK: FCA Issues 'Dear CEO Letter' on Requirements for SCA in Card-Not-Present E-Commerce Transactions
21st Aug 2019 | Written by:
On August 20, 2019, the Financial Conduct Authority (FCA) published a "Dear CEO Letter" on requirements for strong customer authentication (SCA) in card-not-present e-commerce transactions. ...
German Banks 'Astonished' As BaFin Takes Tough Stance On APIs
16th Aug 2019 | Written by:
German banks have expressed their shock at a letter from the country’s financial regulator saying it was unlikely their application programming interfaces (APIs) would be approved by September’s...
EBA Rejects Industry Suggestions For Open Banking 'Guestbook'
15th Aug 2019 | Written by:
The European Banking Authority (EBA) has further narrowed the lane for fintechs when it comes to access to customer accounts, rejecting industry proposals for a workaround when third parties are...
EBA Clarifies Fifth Set of Issues Raised by Working Group on APIs under PSD2
14th Aug 2019 | Written by:
On August 14, 2019, the European Banking Authority (EBA) published responses to the fifth set of issues (XXI to XXVI) raised by participants of the working group on application programming...
FCA Agrees To Six-Month 'Transition Period' On Open Banking Reforms
12th Aug 2019 | Written by:
The UK’s Financial Conduct Authority (FCA) has decided to give banks and third-party providers an additional six months to meet incoming requirements on account access, after concerns that a lack...
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