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Open Banking 2.0

eW blog article - In this disruptive evolution promoted by PSD2 there are the premises of a new way of doing banking, more open and more accessible, both to customers and businesses, questioning the old logic and traditional balances and finally allowing new competitors to enter the market.

Why the challenging implementation of PSD2 should not overshadow the road to a pan-European payment infrastructure

eW blog article - Like the PSD2 today, SEPA had to be implemented on a pan-European basis and required several adjustments to the processes and infrastructures of finance stakeholders. However, there are also major differences between the implementation of both standards.

Enabling innovation through payments platform transformation

eW blog article - In the wake of rapidly evolving customer expectations, new digital standards for financial services are now increasingly being met by a wave of agile fintech companies which leverage technological advances to enhance customer experiences.

Should there be a PSD3 to really open the market?

eW blog article - Since PSD2 became effective in January 2018, the market has slowly started to act on it. We see that until now only a few banks have published their PSD2 APIs. The main reason for this slow take-up lies in the fact that the RTS (Regulatory Technical Standards), which determine how some of the PSD2 stipulations have to be interpreted, only become effective as of 14 September 2019.

Open banking requires enhanced security such as Strong Customer Authentication

eW blog article - In general, there are three factors to identify yourself when making an electronic payment: something that you know (such as a PIN code), something that you possess (such as a telephone) and something that you are (such as a physical characteristic). Under PSD2, the Regulatory Technical Standards (RTS) for Strong Customer Authentication (SCA) requires that one’s identity has to be verified by at least two of these three independent options in order to perform a payment. What is SCA and why is it necessary for banks to enhance their security?