PFS News

Open banking gets off to slow start in Australia

Open banking has become a reality in Australia after the country’s Consumer Data Right (CDR) legislation went live on 1 July.     The country’s four major banks – ANZ, Commonwealth […]

Bank of England to host fintech ‘Innovation Hub’

The Bank for International Settlements (BIS) is to expand its ‘Innovation Hub’ network by establishing four further centres with central banks, including the Bank of England (BoE), as it looks […]

Colombian blockchain trial cause for ‘cautious optimism’, says WEF

Blockchain’s potential to prevent corruption in public procurement has been tested in Colombia, with a trial prompting “cautious optimism” over its potential, according to a World Economic Forum (WEF) report. […]

Central bank digital currency developments hit “top gear” amid coronavirus

COVID-19 is accelerating the pace towards a functioning central bank digital currency (CBDC), the co-chair of a central banks’ working group has said. “There is little evidence that cash transmits […]

UK tax agency scouts new payments messaging service

Payments body Pay.UK has launched the technical specifications for a new WhatsApp-style messaging service that it believes has the potential to help public authorities collect payments. Global Government Forum understands […]

French competition authority invites challenges to tech giants’ e-payments drive

France’s competition authority has launched a consultation on the fintech sector, focusing on the role of ‘large digital platforms’ in payment services. The Autorité de la concurrence has announced the […]

UK ‘open banking’ champion looks to boost payments functionality

The UK is “90% of the way” through the first, implementation phase of introducing ‘open banking’, according to the body leading its development – which has just set out its […]

UK financial authorities launch ‘grid’ to map out regulatory pipeline

UK financial regulators have launched a ‘grid’ to outline details of upcoming regulatory initiatives and highlight timetabling changes resulting from the coronavirus crisis. The Regulatory Initiatives Grid has been launched […]

Corona forces postponement of UK e-payments deadline

The UK’s Financial Conduct Authority (FCA) is to give industry an extra six months to implement new rules aimed at boosting the security of payments and reducing fraud, due to […]

European Commission consults on digital finance and retail payments

The European Commission has begun consultations on two financial services areas: digital finance and retail payments. It is seeking views on topics including distributed ledger technology (DLT) – of which […]