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Payment Services, Fintech and Data Flows: What to Expect?

Data protection
Date: Thursday, 07 June 2018 15:30 - 17:30

Venue: CEPS Conference room Place du Congrès 1 - 1000 Brussels  |  City: Brussel, Belgium

As a bonus to the annual ECMI-ECRI Fintech Day, we are offering a special session and cocktail around the issue of payment services, Fintech and Data Flows.

The new Payment Service Directive 2 (PSD2) and its Regulatory Technical Standards (RTS) require banks to open APIs to Third-Party Providers (TPPs) in 2019.  The early start jumps the EU ahead of its U.S. and Asian competitors. It will allow start ups to use these APIs to link their innovations with traditional bank accounts. Regulators hope this move will drive competition between banks, tech giants and start ups, opening up the market and providing new innovative and trusted payment services for small businesses and individual users. The reform should encourage banks to reinforce their IT infrastructure, allowing consumers quick access to these new services with a few simple steps. Several key questions remain unanswered. What data is required? How much data is enough? What is the interplay between PSD2 and GDPR? What standards should be implemented?

#EUevents

 

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  • Thursday, 07 June 2018 15:30 - 17:30

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