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Impact of PSD2 regulations on banks, regulators and FinTechs
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The proposed Payment Services Directive II (PSD2) set by the European Commission in 2013, is expected to be implemented by all member states into law by January 13, 2018. Its main objective is to ensure enhanced consumer protection, safe payments and encourage innovation. However, some see these new regulations as obstacles against providing innovative solutions for banking.

 

What are PSD2 regulations?

These are the new European Union banking regulations which will govern the protection and sharing of data across Europe. The regulations will give non-banking third parties such as...

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Banks relocating their headquarters after Brexit
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Some banks have already started choosing alternative headquarters after UK has left the European Union, with Frankfurt emerging as the preferred destination. Frankfurt appears to have taken an early lead over other cities such as Paris and Dublin. Nomura, a Japanese bank, is one of the banks to move their headquarters to Frankfurt. It is the largest brokerage firm in Japan. This comes even after Prime Minister Theresa May lost her majority, which increased the chances of UK seeking a softer Brexit deal that would lead to a reduced impact on its financial services industry....

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Introduction of New Bank Fees in Germany
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The finance website biallo.de currently reported that many banks across Germany are now charging a certain fee upon each withdrawal. For instance, many branches of Sparkasse banks are now charging up to 0.50 Euro to their own customers on every withdrawal. The website further reported that 40 of the over 400 companies in the Sparkasse network are now charging the fee for withdrawal.

In Erding town, customers now withdraw money twice a month before they pay a withdrawal fee of 0.29 Euros, while the ATM users withdraw four times a month before the charges are imposed on them. The fee is...

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