PSD2: REGULATION AND INNOVATION
24TH JANUARY 2018
24TH SEPTEMBER 2018
There can be no doubt that the new Payment Services Directive (2015/2366/EC) (PSD2) is set to revolutionise banking services throughout the European Union (EU) and usher in a whole new host of unique and innovative payments systems and ideas. Given the sheer breadth of Payment Institutions affected by PSD2, the complexity of this new payments landscape should not be underestimated. Firms need to not only become PSD2 compliant, but without a shadow of a doubt they also need to arm themselves with strategic insights that will allow them to successfully navigate and thrive in this newly forecasted complexity of payments systems and institutions. This new and innovative training course seeks to provide firms with highly comprehensive yet logical guidance through the new PSD2 framework, in addition to presenting insights into new strategic regulatory challenges and opportunities following the 13th January 2018 implementation date.
REVISED PAYMENT SERVICES DIRECTIVE (PSD2):
REGULATION AND INNOVATION
SESSION 1: An Overview of the PSD and PSD2 Operational Frameworks
· Overview of the Payment Services Directive (2007/64/EC) (PSD), Harmonization and Integration of Retail Payments in the European Union (EU), Consumer Protection, Payment Efficiency, and Payment Chain Security Risks.
· Overview of the Revised Payment Services Directive (2015/2366/EU) (PSD2), Payment Services (Account Information Services (AIS), Payment Initiation Services (PIS)), Payment Institutions (Banks, Building Societies, Money Remitters, E-Money Institutions, FinTech Platforms, Acquirer Payment Institutions, Non-Bank Credit Card Issuers and Merchant Acquirers).
SESSION 2: Understanding the New PSD2 Financial Landscape
· The PSD2 Operational Framework, the Single Euro Payments Area (SEPA), Payment Services Providers, and Exemptions (Commercial Agency, Limited Network, Digital Device, ATMs).
· Third-Party Account Access, Account Information Aggregators, AIS Providers (AISPs), PIS Providers (PISPs), and Execution of Payment Transactions.
· PSD2 Security Framework (Data Protection, Operational Risks, Security Risks, Authentication, Fraud Controls, Incident Notification).
· Consumer Protection (Complaints Procedures, Dispute Resolution, Penalties, Surcharge Restrictions, Refund Rights, Liability for Unauthorised Transactions).
SESSION 3: A Review of EBA Regulatory Technical Standards and Guidelines
· Analysis of the European Banking Authority (EBA) Regulatory Technical Standards (RTS):
(1) Strong Customer Authentication and Common and Secure Communication; and
(2) Passport Notifications.
· Analysis of the EBA Guidelines:
(1) Major Incidents Reporting;
(2) Minimum Monetary Amount for Professional Indemnity Insurance; and
(3) Authorisation and Registration).
SESSION 4: PSD2 Strategic Regulatory Challenges and Opportunities
· PSD2 Strategic Regulatory Compliance (Third Party Providers (TPPs), Access to Accounts (XS2A), Open Application Programming Interfaces (APIs), and Open Banking Technical Standards).
· PSD2 Strategic Challenges and Opportunities for FinTech Firms, and a Review of Existing FinTech Firm Offerings (AccessPay, Adyen, AstroPay, Azimo, Currency Cloud, DoPay, Flypay, Droplet, Judo, GoCardless, Ixaris, Monese, MoneyMover, Osper, Mondo, Moni, Pockit, Revolut, SumUp, Yoyo).