Global standards for open banking are desirable but may not be achievable even at a regional level, at least in the short term, industry experts said on Wednesday.
The Open Banking Implementation Entity (OBIE) has released an update to version 3.1 of the Open Banking Standard published in November 2018. The update provides clarifications to the previous...
The UK’s financial regulator issued a call on Thursday for banks and third-party providers to work together to ensure a “smooth” transition in September, when the regulatory technical standards of...
The first crunch period of the EU’s revised Payments Services Directive (PSD2) falls today, marking the latest point at which banks can begin offering testing facilities to prove to regulators that...
Banks could be in trouble again with the UK’s competition regulator, after the Open Banking Implementation Entity passed on a file of information on banks that have failed to adhere to the...
EU authorities have begun responding to concerns raised over the practical aspects of how banks and fintechs will connect to one another under new European payments laws, but have so far not...
On March 11, 2019, the European Banking Authority (EBA) published clarifications to the first set of issues that had been raised and discussed by participants of its working group on application...
Payments bodies in New Zealand and Australia are examining ways to adopt common standards in open banking regimes shaping both jurisdictions, as ambition for closer international cooperation ...
On January 11, 2019, the Department of Finance launched a public consultation seeking feedback on the merits of open banking for Canadian citizens, to assist the Advisory Committee on Open Banking,...
On March 7, 2019, the South Korean Financial Services Commission (FSC) released its financial policy roadmap for 2019, which has a three-fold scope: to promote financial innovation; ensure consumer...
Industry experts have welcomed the recent announcement by EU authorities that recurring card payments will not be subject to onerous security requirements, drawing a line under an issue which...
Consumer and privacy watchdogs have heavily criticised the draft Australian law to facilitate the launch of open banking in the country, while fintechs eager to move onto legacy banks’ turf urge...
On December 21, 2018, the Australian government published a draft privacy impact assessment on the Consumer Data Right (CDR), in accordance with the Australian Privacy Principles (APP) Code 2017...
European authorities have confirmed that recurring card payments can be initiated by the payee, exempting those payments from strong customer authentication (SCA) and providing long hoped-for...
The industry body developing New Zealand’s open banking regime today released nationwide standards for the interfaces that will connect banks with third-party providers.
On February 15, 2019, the Norwegian government published the Regulation on Systems for Payment Services, which was adopted by the Ministry of Finance on the same day. The regulation is part of a...

Pages