PSD2

As the deadline for PSD2 looms and financial services frantically try to get systems ready, application programming interface (API) standardisation would ease challenges, according to a panel at the Global RegTech Summit 2019.

The UK deadline for businesses to comply with the EU’s new rules for online payments has been postponed. But some warn businesses shouldn’t breathe a sigh of relief yet.

Central Bank of Ireland has reportedly confirmed it will delay the roll out of Strong Customer Authentication (SCA) rules.

The EU is enforcing new rules for online payments on September 14. For creative RegTech and FinTech businesses, the new legislation could present massive opportunities.

New EU rules boosting customer security are set to be enforced by mid-September. However, the UK may take another 18 months to implement the changes.

Ahead of the EU’s Second Payment Services Directive (PSD2) fully snapping into action on September 14, WSO2 has revealed a software update to help banks comply with the new regulations.

Online fraud protection company Signifyd has launched its strong customer authentication (SCA) tool which will help firms meet impending deadlines.

Most banks in Denmark will be ready for PSD2 by its implementation date, although the quality of the APIs will be debated – and there are concerns around the readiness for Strong Customer Authentication (SCA), according to Tobias Thygesen director of FinTech, payment services and governance division at Finanstilsynet.

The European Banking Authority (EBA) has published a new set of clarifications regarding APIs under PSD2.

Florida-based ACI Worldwide is releasing a new suite of tools to ensure businesses are prepared for the final parts of the EU’s Revised Payment Service Directive (PSD2) snapping into action in September.