Open Banking and Instant Payments are a match made in heaven. They are an integral and well established part in the banking landscape. Open Banking and Instant payments have proved to be a powerful combination, fostering payments innovation and contributing to widespread disruption of the banking and payments marketplace.’
Open banking provides third-party financial service providers open access to consumer banking, transaction, and other financial data from banks and non-bank financial institutions through the use of APIs whereas Strong Customer Authentication (SCA) has already been introduced in EU to reduce fraud and make those online transactions more secure. Although we are already pass the set PSD2 deadline but it’s still far from full enforcement. Soft decline staged approaches have been introduced by many different national competent authorities in order to allow for a transition phase before the full PSD2 2021 enforcement.’
Strong customer authentication (SCA) is a requirement of the EU Revised Directive on Payment Services (PSD2) on payment service providers within the European Economic Area. The requirement ensures that electronic payments are performed with multi-factor authentication, to increase the security of electronic payments. Physical card transactions already commonly have what could be termed strong customer authentication in the EU (Chip and PIN), but this has not generally been true for Internet transactions across the EU prior to the implementation of the requirement, and many contactless card payments do not use a second authentication factor.’
Instant payments initiatives was initially centred around domestic retail payments but with raising expectations it has evolved into the Corporate, B2B segment and Cross-Border space. Besides regulations, (such as PSD2) are also driving more momentum and adding new business models.’
We are therefore merging two of our leading shows’
3rd Annual Open Banking & SCA Forum and 5th Annual Instant Payments Summit, for a combined virtual summit which will uncover ways on how banks can leverage OB and Instant payments for increasing their revenues, attract new customers, open themselves up to new collaborations to fend off the growing competition.’
This unique event will be jointly represented by 35+ leading speakers and it aims to gather about ~300 qualified attendees (mostly from banks, regulators, merchants, corporates and innovative FinTech companies) who are looking to stay ahead of the curve.’
We invite you to come participate and engage at this unique virtual symposium.
