Webinar Scheduled for 3rd July 2018

Research highlights significant variation in processing arrangements across Europe and predicts banks will increasingly outsource payment processing in the future

Many acquirers still maintain an interface with card scheme networks

According to a new study by research and consulting firm RBR, Payment Cards Issuing and Acquiring Europe 2018, there is no common approach to merchant processing in Europe; agreements between card accepting outlets and merchant acquiring banks, for the settlement of card payments, vary widely.

KPMG surveyed 150 UK leaders and a further 1,150 CEOs from across the world about their future investment plans and the challenges and opportunities facing their companies.

With reports of cyber-attacks and breaches almost daily, 39 percent of UK CEOs surveyed believe they will be targeted by a cyber attack. Though disheartening, this view was quite optimistic in comparison to their global counterparts, where 49 percent said they envisioned a cyber attack on their business.

Nordea has entered into an agreement with Gjensidige Forsikring ASA to acquire all shares in Gjensidige Bank ASA. The agreement also includes a long-term strategic mutual distribution cooperation with Gjensidige in Norway. 

Gjensidige Bank is one of Norway’s leading online banks. The bank offers private individuals a suite of digital banking services, mortgages, car financing, unsecured loans and savings and investments distributed online and through a network of strong partners.

Even as we move towards a cashless society, ATMs still play an important role in the financial life of Brits across the country, and reduced access might have unpredictable consequences for a number of industries besides the financial services – such as retail and hospitality – as well as for consumers.

My buddies and I are constantly in the pursuit of the “perfect burger.” So much so that I once sent my friend $20, using a Canadian e-transfer money service, and a message telling her to visit the restaurant and taste it for herself.

The WannaCry ransomware attack was, at the time, one of the most devastating and widespread cybersecurity incidents recorded. By exploiting a known vulnerability in Microsoft Windows, attackers were able to compromise public and private-sector organisations around the world with apparent ease, despite a patch being available for two months. In the UK, 34% of NHS trusts were affected, as well as more than 600 primary care organisations.

Kx, a division of First Derivatives plc (FD) and provider of the industry-leading kdb+ analytics database, has announced Dashboards for Kx integration with Finsemble and OpenFin. Dashboards for Kx’s rich visualization, powered by the complex processing capabilities and speed of Kx technology, is now enhanced with a seamless desktop experience.

In combination, the EU’s Second Payment Services Directive (PSD2) – and the European Banking Authority’s (EBA’s) related Regulatory Technical Standards (RTS) on Strong Customer Authentication (SCA) and Secure Open Standards of Communication (CSC) –profoundly impact banks' IT systems and business models.

They open up banks’ systems to third-party payments services providers (TPPs) for account information, payment initiation and confirmation of funds via access interfaces such as application programming interfaces (APIs). The RTS also describes requirements regarding SCA.