Open Banking or API Banking - the opening of the traditional banking sector to third-party companies – has become a major topic in finance. It’s not only the new Payment Services Directive (PSD2) of the EU, affecting all banks located in the EU, that leads to an energized, pioneering atmosphere. More and more IT-driven developments result in banks having to deal with the question of how to position themselves in a future market with not only plenty of new business opportunities, but also numerous new competitors on the rise. Open Banking is certainly strongly transforming the financial sector. It challenges the traditional structures and has the potential to revolutionize the entire industry.Weiterlesen
In financial industry, there’s hardly any topic that is being discussed more controversially than the PSD2, the "Payment Services Directive 2" of the EU. The directive entered into force on September 14, after a year and a half of preparation time. The new directive requires all banks in the EU to revise their security concepts and communication interfaces. This confronts institutions with the issue of an opening up of the industry to third-party providers and, in a broader context, the digitization and restructuring of the financial world.
PSD2 is the driving force of the concept of open banking in Europe and it is also shifting paradigms internationally.Weiterlesen
In the world of established business processes, Robotic Process Automation (RPA), or short Robotics, is on everyone’s lips. As a tool to automate well-defined but time-consuming repetitive standard processes in a cost-effective way, RPA has versatile applications.Weiterlesen
In 2017, the British Financial Conduct Authority (FCA) announced that the calculation of the LIBORs will not be continued after 2021. It is to be replaced with a new risk-free reference interest rate. All the main currencies will be affected. We describe the possible impacts as well as the necessary changes that are required during the conversion to the new interest rate.Weiterlesen
In the context of the UK’s withdrawal from the European Union at the beginning of next year, many institutions decided to expand their business activities in Frankfurt or relocate there. Finbridge informs these institutions about the upcoming regulatory requirements.Weiterlesen
Currently the blockchain technology is attracting a lot of attention, with many application areas being examined regarding optimisation potential. In our publication we give an overview of the possibilities this innovation provides.Weiterlesen
In recent years, covenants have gained importance as a tool for credit risk management and have become established as a widespread creditor protection instrument in credit agreements.Weiterlesen