The European Banking Authority (EBA) enforces a new liability shift on internet payments from August 2015

The European Banking Authority (EBA) has decided to enforce new and stronger security requirements of internet payments, effective from August 2015 ref: https://www.eba.europa.eu/-/eba-issues-guidelines-to-strengthen-requirements-for-the-security-of-internet-payments-across-the--1 The strong authentication requirements defined within the ‘SecuRe Pay’ framework creates the new rules of liability for all payment service providers –PSP - throughout EU/EEA, quotation: “PSPs with no or only weak authentication [...]

The competitive edge in banking

In Norway we see the same trends as elsewhere; banks close down branches and increase their digital presence. I used to work within the banking / finance industry in Norway for many years. We often discussed the edge of being a local bank, and actually we still have small local banks with more than 50 % [...]