Posts getaggt mit Payments
The Future of Payments: SWIFT, TARGET2 and ISO 20022
The Future of Payments: SWIFT, TARGET2 and ISO 20022

In the course of teh transition to ISO20022, the European payments infrastructure will change fundamentally and enormous opportunities in terms of process efficiency and an optimized customer experience will open up. Even though the integration of the standard is not mandatory from a regulatory perspective: To keep pace with international developments, extensive implementation projects lay ahead of European banks. In this article, we provide a brief overview of what is at stake and when the changes will take effect.

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TopicGuest UserPayments, ISO, ISO 20022, TARGET2, SEPA, EBA, STEP1, STEP2, EURO1, Bundesbank, TARGET, UNIFI, SWIFT
Open Banking: Opportunity or Threat for Banks?
Open Banking: Opportunity or Threat for Banks?

Open Banking or API Banking - the opening of the traditional banking sector to third-party companies – has become a major topic in finance.  It’s not only the new Payment Services Directive (PSD2) of the EU, affecting all banks located in the EU, that leads to an energized, pioneering atmosphere. More and more IT-driven developments result in banks having to deal with the question of how to position themselves in a future market with not only plenty of new business opportunities, but also numerous new competitors on the rise. Open Banking is certainly strongly transforming the financial sector. It challenges the traditional structures and has the potential to revolutionize the entire industry. 

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Insight, TopicGuest UserOpen Banking, API Banking, API, Payments, PSD2
PSD2: Europe‘s Incubator for Open Banking
PSD2: Europe‘s Incubator for Open Banking

In financial industry, there’s hardly any topic that is being discussed more controversially than the PSD2, the "Payment Services Directive 2" of the EU. The directive entered into force on September 14, after a year and a half of preparation time. The new directive requires all banks in the EU to revise their security concepts and communication interfaces. This confronts institutions with the issue of an opening up of the industry to third-party providers and, in a broader context, the digitization and restructuring of the financial world.

PSD2 is the driving force of the concept of open banking in Europe and it is also shifting paradigms internationally.

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Insight, TopicGuest UserOpen Banking, PSD2, Payments, API-Banking