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Monetary Authority Of Singapore: What It Will Take To Win Digital Banking Licenses

PYMNTS

Other regulators in Australia, India and Singapore are examining financial innovation rules of their own, using GDPR and PSD2 as guidelines. Around The Data Protection And Security World. The regulation is now slated to roll out in July 2020, rather than the February 2020 deadline previously proposed.

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An API-Driven Fix To Digital-First Banking

PYMNTS

The global financial space has been severely impacted by the ongoing COVID-19 pandemic, with social distancing and stay-at-home guidelines preventing customers from visiting bank branches to access the services they need. Developments From Around The World Of Digital-First Banking.

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Mastercard On The ‘Digital-First’ Transformation Of Credit Cards Into Daily Money Management Tools

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The company said that through the expansion of its Digital-First Card Program, which was announced last Wednesday (Sept. 23), it is offering foundational digital guidelines to help several partners – including payment processors FIS, CoreCard, i2c, TSYS (owned by Global Payments) and others – to access card data in a speedy, secure manner.

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APIs May Be The Key To Singapore’s Open Banking Future

PYMNTS

Banking is no longer just for traditional FIs, thanks to open banking’s spread. Digital banking development is poised to explode in Singapore, where legacy institutions have traditionally dominated. The landscape also means traditional banks are not particularly motivated to upgrade their platforms or technologies.

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SWIFT Reveals New API Standard For Pre-Authorization Of Funds

PYMNTS

“Our work on the pre-authorization of funds API is another example of the central part we are playing in ensuring the industry can make the most of the new open banking landscape.”. When individual banks use a unique API, merchants and FinTechs have to accommodate distinct security considerations and workflow for each one.

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Merchants Ready For Open Banking — And Its New Laws — To Impact US Rollout

PYMNTS

In its March 2020 brief “Developments in Open Banking and APIs: Where Does the U.S. the Federal Reserve Bank of Boston said, “To date, U.S. regulators have taken a more hands-off approach by issuing non-binding guidelines, thus allowing industry stakeholders to pave the way forward. Artisanal APIs Derive From Deep Merchant Data.

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Report: Helping Online Merchants Comply With The Middle East’s New Payments Regs

PYMNTS

The ongoing pandemic has caused many regulators in the MENA region to examine the digital and open banking infrastructure they have in place. The aim of doing so is to create a more robust framework for digital banking. The country’s Data Protection Law was announced in 2019 and officially came into effect in July 2020.

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