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Global Payments Newsletter, July 2021 | Hogan Lovells

Europe: EBA consults on proposed guidelines on limited network exclusion under PSD2 On 15 July 2021, the EBA published a consultation paper (EBA/CP/2021/28) proposing guidelines on the limited network exclusion (LNE) under PSD2. The EBA explains that Article 3(k) of PSD2 introduced an exclusion for services based on specific payment instruments that can be used only in a limited way. It believes that the implementation and application of the LNE requirements diverges significantly between member states, which impedes the single market for payment services in the EU and creates opportunities for regulatory arbitrage. The EBA also believes that consumers are sometimes unaware that they do not benefit from the protection envisaged under PSD2.

Investegate |Delphix Announcements | Delphix: Only 3% of Financial Services Firms Ready for Open Banking Deadline

Only 3% of Financial Services Firms Ready for Open Banking Deadline Data Privacy Challenges Blocking Open Banking Adoption for Business Growth, Innovation LONDON, July 28, 2021 (GLOBE NEWSWIRE) Only 3% of financial services (FS) organisations are confident they are prepared for the next major Open Banking enforcement deadline, due in September 2021, according to Delphix, the industry leading data company for DevOps. The study – carried out by Pulse and commissioned by Delphix – polled 100 tech leaders in the finance banking and insurance industry to understand how prepared they are for compliance with Open Banking deadlines and what’s getting in the way. All respondents are from EMEA (77%) and APAC (23%) and work at companies with over 10,000 employees.

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