The second stage of the European Payment Services Directive (PSD) entered into force on September 14th 2019. Its general aim is to increase security and consumer protection in payment transactions and to promote competition and innovation in the market. For banks and retailers, the implementation of PSD2 is causing a lot of work and effort. Customers must get used to new security questions. Third party providers now have access to account information with customer approval. This creates competition and at the same time potential for innovation, from which all parties involved can benefit.
The corona virus accelerates digitization. But that comes with certain challenge for companies whose employees are suddenly working primarily from home and compliance standards must continue to be met.
In order to protect the financial system from abuse, measures to comply with national and international embargo regulations are required. Filter software systems and their rule sets are of great importance there. However, these must be analyzed regularly to guarantee optimal hit quality.
Passwords are a necessity in our modern everyday life. But most Germans choose short and simple passwords for a large and increasing number of accounts. This makes it easy for hackers. With these tips, you can securely design and manage passwords to better protect your data.
Compliance will remain a complex and fast moving business also in 2020 and this blog will keep covering and looking at relevant topics from different perspectives. Diverse articles have caught a great deal of attention last year – from virtual bank accounts to KYC versus KYT to gifts and benefits from business partners. Here a complete overview and summary of the most popular topics in 2019.
Online shopping is booming. About 98 percent of Internet users are online buyers. No wonder, because it’s the most convenient way to shop and it offers more variety than local retail. But how do buyers find a truly legitimate online retailer and how safe are the offered payment methods? Here are the most important tips, so the Grinch won’t steal your Christmas.
While digitization is progressing, financial institutions are facing difficult tasks. Data is the new precious asset. New technologies must be implemented fast while the daily business runs on the existing system. But challenges are one of the best ways to spark innovation. Interdisciplinary teams have already been formed to embrace this transformation.