As a bonus to the annual CEPS-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?
Event Commissioned by Intuit
Speaker: Bernie McKay Chief Public Policy Officer Intuit Inc.
Moderator William Echikson or Sylvain Bouyon, CEPS
Registration from 15.30 – Meeting from 16.00 to 17.30 followed by a cocktail.
