ΠΕΡΙΓΡΑΦΗ

Technology and innovation were the main drivers behind PSD2: emerging novel providers relying on fintech had been out of the initial regulatory scope (PSD1). Regulators enhanced, modernised, and harmonised the payment regulatory framework through PSD2.  In turn, the payment regulatory framework opened the door for new entrants and even further fintech development. The payment market has seen the rise of novel, innovative business models and the shift of incumbents to fintech solutions.

This course examines the interplay between fintech and PSD2. The course focuses on the payment service providers regulated under PSD2, including payment institutions, third-party providers, and electronic money institutions (established by the Electronic Money Directive and regulated by both the Electronic Money Directive and PSD2). Fintech is instrumental to the transformation of the payment industry within the confines of PSD2.

The course offers the means to understand such transformation by analysing the regulatory framework and the latest technological developments. Crucially, the course provides the insight and tools to keep abreast of the anticipated trends and regulatory issues to successfully enter, serve, and become competitive in the payment industry.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the programme the participants will be able to:

• Familiarise themselves with the key provisions of PSD2
• Understand the new features brought by PSD2 compared to PSD1
• Understand the impact of fintech on the development of PSD2, and the opportunities for further fintech development thanks to PSD2
• Identify market participants (focus on Payment Institutions and Electronic Money Institutions), including new market entrants (TPPs) governed by PSD2.
• Understand market participants’ developing business models, products, services, and innovation (mainly driven by fintech)
• Explain what Open Banking is and what are its implications
• Understand the requirements and standards for Strong Customer Authentication
• Understand the continuing use of technology, especially disruptive technology, in the payments industry
• Identify and critically assess the new trends, customer expectations, and technologies affecting the payments industry
• Identify and explore the challenges of integrating fintech and navigating PSD2 compliance

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

The programme is ideal for:

• Lawyers and Financial Consultants
• Money Laundering Compliance Officers
• Compliance Managers
• Compliance Staff
• Sales and Business Development Executives
• Internal Lawyers
• IT Professionals
• Digital Transformation Officers and Specialists
• Card Operation Managers
• Electronic Banking Managers
• Legal Services professionals
• Members of Innovation Labs
• Licensed or non-licensed Third-Party Providers (TPPs)
• C-Level Executives and Senior Managers
• Cash Management Officers

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Training Outline

Introduction and Overview of PSD2

• Background: what is PSD2?
• Development from PSD1: key changes introduced
• Regulatory context
• Key objectives of PSD2 – link with fintech
• Who does it affect?

 Analysis of PSD2

• Explanation of main Titles (six Titles), fundamental provisions, and exemptions
• Payment Service Providers: focus on Payment Institutions and Electronic Money Institutions
• New Services/Providers – Third Party Providers (TPPs): Payment Initiation Service Providers and Account Information Service Providers
• Open banking and regulatory technical standards
• Strong customer authentication

  Fintech & PSD2 interplay and reinforcing relationship

• Fintech developments in relation to PSD2 and payments industry
• Open banking & API
• TPPs impact on payment processes and e-commerce
• Emerging business models: neo-banks (often operating as Electronic Money Institutions)
• Emerging products and services, e.g. cryptocurrencies
• Technology use and trends in payments
• Technology used and developed in payments, such as Biometrics and Blockchain
• Main applications, such as facial recognition for KYC and electronic signatures
• Regtech: technology used for compliance purposes
• 
  

Key Challenges in Fintech and PSD2 implementation

Discussion of challenges facing PSD2 and fintech implementation (such as compliance, technological issues, BigTech firms’ threat, integration of fintech solutions depending on business (incumbent, new entrants), keeping abreast of trends and disruptive technologies).

Training Style 

The seminar is designed to deliver theoretical knowledge supported by power-point presentations and discussions. Furthermore, participants will have the opportunity to pose questions and further discuss during the Q&A section of the seminar.

CPD Recognition

This programme may be approved for up to 7 CPD units in Banking and Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.