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Banfico

Arion Bank Chooses Banfico Open Banking Directory

Arion Bank, one of Iceland’s leading universal banking groups, has chosen the Banfico OB Directory Plus to support its Open Banking and PSD2 access-to-account compliance process.   The new Act on Payment Services which transposes the Revised Payment Services Directive (PSD2) into Icelandic law, entered into force

OB Directory: Mitigating Open Banking Risk

Under the second EU Payment Services Directive (PSD2) and the UK’s Open Banking Regulation, banks are required to allow third parties with the appropriate payment services permissions to access their customer payment accounts and prevent access for organisations without these permissions. If banks fail to

Banfico Announces Expansion to Brazil with a New Subsidiary

Open banking and payment expert Banfico expands with a new subsidiary in Brazil. Banfico today announced the launch of its subsidiary in Brazil, Banfico Tecnologia Ltda in São Paulo. The creation of this new subsidiary closely follows the launch of Brazil’s Open Banking roadmap which

Brazilians Welcome Open Banking

In the two years since open banking was approved by Brazil’s Central Bank, there has been a great deal of progress, despite a few set backs. Here, we look at how CIP, in partnership with Banfico, is helping spearhead the change. Originally due to be

Banfico Launches Open Banking Directory Service

Banfico has launched an Open Banking Directory Service, enhancing its open banking portfolio, already being used by communities around the world. The Banfico Directory will form part of the TPP regulatory validation service being used by Account Servicing Payment Service Providers (ASPSPs) in Europe and

Deadline Extension for Strong Customer Authentication

Strong Customer Authentication (SCA) is a key part of the Second Payment Services Directive (PSD2) and a vital measure to counteract the rise in online fraud. As the new security framework for digital payments, SCA has been a long time coming – and now the

Confirmation of Payee: Why It Should Be Mandatory

The growth of online banking and payments has seen a corresponding rise in fraud. Scammers have become increasingly adept at exploiting vulnerabilities in digital transactions, and one of the most alarming trends over the past decade has been the increase in Authorized Push Payment (APP)