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EBA CLEARING has announced its plan to provide Verification of Payee services to its users at a pan-European level starting from December 2024.
identity verification, fraud prevention, instant payments, payments
Commerzbank has updated its platform in Germany to process cross-border payments via the SWIFT network and high-value, urgent payments via TARGET 2 or EURO 1 systems.
cross-border payments, SWIFT, product upgrade, payment processing, ISO 20022
EBA CLEARING has announced its plan to launch a new OCT cross-border service in the RT1 System, which will be available for users by November 2024.
product launch, payments , cross-border payments, cross-border ecommerce, online payments, mobile payments, digital payments, ecommerce
Frédéric Viard, Head of Commercial Product Management – Financial Messaging at Bottomline, discusses SEPA Instant Payment’s` impact on European payments, outlining challenges and opportunities for PSPs.
instant payments, SEPA, PSP, cross-border payments
As preparations for several pan-European payment schemes ramp up, Tino Meissner, Product Manager for Request to Pay, Deutsche Bank assesses the opportunities they offer and how the remaining challenges can be overcome to deliver an Open Finance ecosystem for the future.
Open Banking, Open Finance, SEPA API Access Scheme, SEPA Payment Account Access Scheme, online payments
EBA CLEARING has issued the specifications for its pan-European Fraud Pattern and Anomaly Detection (FPAD) functionality and is running analytical pilots, with nine banks engaged in the data model training.
fraud prevention, risk management, SEPA, banking, data sharing, PSP, IBAN, financial crime, paytech, fintech, API
Thomas Egner, Secretary General of the Euro Banking Association, reveals what are the building blocks to achieving a uniform European KYC experience.
financial crime, fraud prevention, KYC, financial institutions, regulation, AML, marketplace
EBA CLEARING has announced it will enrich its SEPA payment systems, RT1 and STEP2, with fraud prevention and detection capabilities by November 2023.
fraud prevention, IBAN, transactions , SEPA, PSP
The Paypers researched and analysed the most important partnerships that defined and built resilience in the fintech space in Q4 2022, from Open Banking, through A2A, embedded finance, and all the strategic decisioning in between.
fintech, embedded finance, embedded payments, Open Banking, account-to-account payment, partnership, The Paypers Quarterly Analysis series
Tom Wijnen from Worldline analyses how various regulations interact with Open Banking and what could be done to unify disparate rules, standards, and directives.
Open Banking, Open Finance, Open Data Economy, PSD2, SEPA, GDPR, digital identity, instant payments
Eric Grover, Principal at Intrepid Ventures, analyses the unbalanced competition between central banks and private-sector payment systems across the globe, revealing what are each’s strengths.
central bank, payments system, cross-border payments, fintech
Tino Meissner, Deutsche Bank: SPAA and the work done by SEPA and the EPC are essential developments towards a market-led Open Finance ecosystem
Open Banking, Open Finance, SEPA API Access Scheme, standardisation
Zhenya Winter, Head of Global Marketing - Financial Messaging, Bottomline, shares important takeaways from Bottomline`s 2nd Annual Competitive Banking & Payments report
banks, financial institutions, ISO 20022, real-time payments, fraud prevention, cross-border payments
Jessica Richards, Head of Market Development, Payments at NatWest, talks about innovation in banking and the five key trends she sees in the payments industry
Open Banking, Request to Pay, B2B payments, cybersecurity, fraud prevention, Confirmation of Payee, digital payments
Open Banking and Open Finance are reshaping the global financial services ecosystem. This new report provides an overview of the current state of development in the Open Banking, Open Finance and Open Data industries worldwide.
Open Banking, Open Finance, Open Data Economy, fintech, banks, data sharing, PSP
Financial messaging system SWIFT has laid out its blueprint for a global central bank digital currency (CBDC) network following an 8-month experiment on different technologies and currencies.
Swift messages, CBDC, blockchain, digital currency, crypto asset
EBA CLEARING, The Clearing House (TCH), and SWIFT have announced that they are to deliver the Immediate Cross-Border Payments (IXB) pilot service.
partnership, cross-border payments, payments , payment methods, ecommerce
The European Banking Authority (EBA) has published a report on the reliance of the EU financial sector on counterparties, operators, and financing originating from outside the Single Market.
report, central bank, banking, digital euro
Open Banking Europe has merged with its international division, Open Banking Exchange, to form one global OBE, according to an official press release.
merger, partnership, Open Banking
The European Central Bank (ECB) has published a paper exploring the current inefficiencies of cross border payments, suggesting possible soutions through crypto, blockchain, or interlinked national payment rails.
digital euro, Bitcoin, CBDC, instant payments, instant settlement