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Let’s talk about Strong Customer Authentication: CP21/3

[fa icon='calendar'] 29-Apr-2021 17:49:45 / by Greg James posted in SCA, Payments sector, E-money sector

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In this fourth blog in our series on the FCA’s CP21/3 consultation, Greg James looks at the proposed changes to strong customer authentication (SCA); one of the most contentious regulatory developments introduced by the second Payment Services Directive (PSD2).

The FCA has made a clear effort to alleviate some of the strain on the customer journey, however with new guidance inevitably comes new questions. We have broken down the changes into those that will generate the most conversation and those that are simply explicit confirmations in existing guidance.

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Q&A of a Q&A: A breakdown of the EBA's recent SCA opinions

[fa icon='calendar'] 24-Feb-2021 17:11:43 / by Greg James posted in E-money, SCA, payments, Open Banking and SCA

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In this blog, Greg James simplifies the questions and answers provided by the EBA in their seven new Q&As on strong customer authentication and helps you to understand the impact, starting with those he believes are most consequential.

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Operational and security risk reporting (REP018) and IT audits

[fa icon='calendar'] 17-Nov-2019 13:56:03 / by Alison Donnelly posted in SCA, open banking, Cybersecurity

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Around this time last year we published a blog on REP018, discussing the reporting obligation and who had to submit. Just to recap, 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 return as the ‘operational and security risk assessment.’

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