The Berlin Group, a European coalition of banks and payment processors, has published version 1.0 of its framework designed to give Third Party Providers (TTPs) API access to bank accounts in compliance with new regulations on freeing up customer data under PSD2.
US financial services lobby group Sifma has used its latest cyberattack simulation exercise as an opportunity to call for a roll back of "redundant" rules in order to free up resources for fighting cyber crooks.
Distributed ledger technology, or DLT, is the advancement that underpins an array of new financial products, including cryptocurrencies and digital payment services.
Many have identified DLT as the next great driver of economic efficiency. Some have even compared it to productivity-driving innovations such as the steam engine and personal computer.
The European Commission has issued new requirements that ensure independence of payment card schemes and processing entities, to enhance competition in the card payment market. Retailers will be able to choose the most suitable processor for their card transactions, to the benefit of consumers.
Regulatory impediments and the current fragmentation of protocols from a multiplicty of providers of distributed ledger technology will prove to be a major challenge for banks to overcome before the technology can go mainstream in financial markets, says a senior Deutsche Börse executive.
A computer researcher who gained global recognition for his role in halting the Wannacry ransom attack on UK hospitals has been arrested in the US on charges that he was the chief architect of the Kronos banking trojan.