Opportunities with Open Banking for Credit Unions

In a world where everything is becoming more complex, today’s consumers are seeking financial services providers who can simplify their lives. Solutions that are seamless and personalised are the top choice for consumers. In fact, 63% of consumers expect personalisation as a standard of service. In this blog, Alison Donnelly talks about this expectation from our tech savvy consumers, […]

Operational and security risk reporting (REP018) and IT audits

REP018 is the name the FCA has given to the reporting return for the operational and security risk assessment that all payment service providers (PSPs) must submit to their regulator at least once a year, or more often as the regulator directs. Most other regulators, including the Central Bank of Ireland, simply refer to the […]

Outsourcing function, not responsibility

As of today, credit institutions, MiFID investment firms, e-money institutions and payment institutions must maintain a register of outsourcing agreements that can be made available to the FCA on request and new arrangements must meet the European Banking Authority (‘EBA’) Guidelines. Existing arrangements must be made compliant by the end of 2021. Mindful of the […]

REP017: Are You Ready To Submit Your Fraud Report by 31 August?

Under PSD2, payment services providers across the EU are required to provide statistical data on fraud to their respective competent authority. In the UK, relevant firms are required to collect and submit data on the volume and value of all payment transactions, as well as the volume and value of fraudulent transactions, and provide this […]