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Germany’s Federal Financial Supervisory Authority (BaFin) has made a temporary measure which allow online payments that do not meet strong customer authentication requirements.
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.
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.
TypingDNA has partnered with cybersecurity startup XTN Security to help banks better defend themselves from fraud threats.
The European Banking Authority (EBA) has published an opinion on PSD2’s strong customer authentication (SCA), due to continued queries from market actors.