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The Euro Banking Association (EBA) today issued a note zooming in on the challenges related to the implementation of Verification of Payee requirements under the Instant Payments Regulation, with particular emphasis on the implications for the processing of payment orders submitted in bulks, i.e. file formats, by payment service users.

The Euro Banking Association (EBA) today announced the publication of a new report by its Liquidity Management Working Group (LMWG). “Navigating new waters: The ripple effects of regulation on liquidity management” addresses the changes that the EU’s application of Basel III, the third Capital Requirements Regulation (CRR III), will bring to today’s capital adequacy measures.

The Euro Banking Association (EBA) today released the findings of the EBA survey on cross-border payments initiatives. The survey was developed by the EBA Expert Group on Cross-Border Payments (EGXP) and was conducted earlier this year. The EBA invited its member banks to provide feedback on two core aspects: the extent to which relevant industry initiatives could improve cross-border payments in line with the targets and objectives of the G20 Roadmap and the prerequisites needed for the market adoption of these initiatives.

The Euro Banking Association (EBA) today released a new report by its Digital Currencies & Smart Payments Working Group.

“Re-inventing money: Considerations on future requirements for new forms of digital money” explores future requirements for new forms of digital money with a focus on its use for corporate customers.

The report investigates how technological innovations are transforming not only the banking industry at large, but money itself. Distributed Ledger Technology (DLT) is at the heart of this transformation but continues to pose challenges for financial institutions and their corporate customers.

The Euro Banking Association (EBA) today released recommendations to help practitioners deal with Instant Payments Regulation requirements for euro instant payments involving a currency conversion.

Driven by representatives of 18 account-servicing payment service providers (AS-PSPs) from 11 European countries, the recommendation note spells out how foreign exchange (FX) experts and other payment practitioners understand the regulation obligations impacting these 24/7/365 real-time transactions. Based on this understanding, the note provides practical recommendations for the operational handling of these transactions.

The note is the first deliverable of the Euro Banking Association’s Practitioners Group on Instant Payments. The group was launched after the entry into force of the Instant Payments Regulation in Q2 2024. Its aim is to evaluate the practical impact of the regulation and to formulate recommendations on matters of an operational nature based on a pan-European perspective.

The Euro Banking Association (EBA) today released a report on “Navigating the path to embedded finance”.

The report is based on research by the EBA’s Open Finance Working Group (OFWG), which aims to provide guidance for EBA members to understand the fundamental mechanisms of embedded finance, grasp the opportunities it provides, identify promising embedded finance use cases and shape their own journey towards embedded finance.

The key objectives of the report are to spark, structure and inform a discussion about how financial institutions will likely be affected by the embedded finance trend and what a collaborative approach in this area could look like.

The Euro Banking Association (EBA) today issued version 5.0 of the EBA Fraud Taxonomy, which will take effect on 1 January 2025. The taxonomy offers a common pan-European vocabulary and categorisation approach to describe fraud scenarios related to all kinds of payments, including card transactions. It has been developed by the Association’s Expert Group on Payment Fraud-related Topics (EGPF) representing financial institutions from 15 European countries.

The Euro Banking Association published recommendations aimed at improving Know Your Customer (KYC) practices in the corporate-to-bank domain across Europe with regard to the identification and handling of Politically Exposed Persons (PEPs), their family members and close associates. The new publication by the EBA Expert Group on KYC-related Topics (KYCEG) titled “EBA CBCS – Identification of Politically Exposed Persons (PEPs) in the corporate-to-bank KYC process” is part of the Common Baseline Classification Standard recommendations series and available for download.

The Euro Banking Association’s (EBA) Liquidity Management Working Group (LMWG) today published its latest findings on recent developments in the liquidity management arena: Achieving liquidity efficiency in an “imperfect storm” considers how high inflation, rising interest rates and elevated geopolitical uncertainty are impacting the liquidity
management ecosystem, and provides guidance on how banks and corporates should respond.

The Euro Banking Association (EBA) released a new report providing insight into the financial needs of corporates. The report explores the role of transaction banks and how application programming interface (API) technology could provide a viable solution for handling real-time and on-demand access to data and enable the digitisation of workflows as well as the centralisation of operations.

The report by the EBA Digital Currency & Smart Payments Working Group aims to help banks and other supervised intermediaries prepare their organisation for the potential introduction of the digital euro.  

The Euro Banking Association (EBA) today issued version 4.0 of the EBA Fraud Taxonomy, which will take effect on 1 January 2024. The taxonomy equips fraud fighters with a standardised vocabulary and approach for harmonising the categories they use for the description of fraud types. It has been developed by the Association’s Expert Group on Payment Fraud-related Topics (EGPF) representing financial institutions from 15 European countries.

IBAN-name checks can help to increase the attractiveness of instant payments within the EU, notably by increasing trust in the new mode of payment. But in order to effectively combat attempts at fraud and to bring about greater acceptance of instant payments Europe-wide, they need to be supplemented by further measures. Any possible standardization should, at the same time, be open to solutions already established in individual countries and aim at efficient implementation. These are the findings from the study “IBAN-name check: Current developments and concepts” co-authored by Strategy&, PwC’s global strategy consulting business, together with Oesterreichische Nationalbank (Austrian National Bank, OeNB), Deutsche Bundesbank, and the Euro Banking Association (EBA).

The Euro Banking Association (EBA) today released recommendations on data verification for corporate-to-bank KYC in low-risk situations. Issued as a follow-up on its EBA Common Baseline Classification Standard (CBCS) released in April 2022, this new publication proposes a harmonised approach to corporate data collection and verification in know-your-customer (KYC) processes.

The Euro Banking Association (EBA) today released a report on the use of real-time data in corporate liquidity management based on research by the EBA Liquidity Management Working Group (LMWG).

The aim of this paper is to provide insight into how some companies already use real-time data in the liquidity management space, and where they could potentially benefit from real-time data access. In doing so, the LMWG aims to highlight and clarify the opportunities for banks in this space as well as likely constraints.

The Euro Banking Association (EBA) announced today that it has made publicly available the EBA Fraud Taxonomy, a pan-European taxonomy for payment fraud types. The taxonomy has been developed by the Association’s Expert Group on Payment Fraud-related Topics to support collective and individual fraud combatting efforts in the European payments ecosystem.

The EBA Fraud Taxonomy provides a simplified and straightforward framework to describe fraud scenarios related to all kinds of payments, including card transactions. It helps banks and other payment service providers to harmonise the categories they use for the description of fraud types.

The Euro Banking Association (EBA) today released a report on the opportunities Open Banking provides for improving financial services offered to small and medium-sized enterprises (SMEs). “Open Banking for SMEs – Enhancing financial services for the backbone of Europe’s economy” provides a comprehensive overview of the specific challenges facing the SME sector and how this diverse and heterogenous customer segment can be better served through tailored financial services and value-added offerings based on Open Banking.

The Euro Banking Association (EBA) today released a report on current developments in digital money, such as Central Bank Digital Currencies (CBDC) and stablecoins. “CBDC, stablecoins and beyond: a deep dive into new forms of digital money” provides a comprehensive overview of these new forms of digital money and how banks can prepare themselves for their implementation and adoption. The report covers Central Bank Digital Currencies (CBDC) and privately issued stablecoins (either bank or third-party issued), both of which have become increasingly topical over the past year.

The Euro Banking Association’s (EBA) Open Banking Working Group released a new report today that explores a reference operating model for banks on their way to digital readiness. The report covers both the implications of digital readiness at large, and the specific requirements for successfully initiating Open Banking on an operating model level. The research of the working group was enriched by the input of digital and Open Banking experts within the EBA member community, including digital leaders from 12 major European banks.

The Euro Banking Association (EBA) today released a report on the corporate perspective on request to pay. The report is based on the EBA Request to Pay Survey that ran between September 2020 and February 2021 and was delivered in cooperation with PPI and with the support of an expert group of bank practitioners. The EBA surveyed over 100 corporate experts from 20 countries and conducted additional one-on-one interviews to find out how businesses would like to use request to pay and where they see its value.

The Euro Banking Association (EBA) announced today that seven of its existing Ecosystem Partners – ACI Worldwide (EMEA), Accenture, Fiserv, Mastercard, Microsoft UK, Montran Corporation and S.W.I.F.T. SC – have opted to be upgraded to the status of Premium Ecosystem Partners for 2021. The Premium Ecosystem Partner membership is a new membership category that the EBA has created to better respond to more comprehensive needs and interests of industry players with regard to the Association’s thought leadership, educational and networking activities.

The Euro Banking Association (EBA) and McKinsey & Company published a joint white paper on the future of banks in payments today at EBAday 2020. The paper seeks to prompt a constructive debate on the future of banks in European payments and to ultimately launch a call for action on industry change.

The SCT Inst Migration Action Round Table (SMART2), a forum facilitated by the Euro Banking Association (EBA), announced the release of two new publications on the detection and prevention of payment fraud. The paper on the fraud potential of gift cards seeks to raise awareness of the different abuse scenarios and help reduce fraud in the future. The recommendation note on the optional pan-European fraud information field for the SCT Inst Scheme explains why a field that allows to share contextual information about a payment transaction between the originator and beneficiary PSPs would be helpful and how it should be used.

The EBA Open Banking Working Group (OBWG) released a new report that explores how digital transformation and increasing openness impact both trust in the financial sector and the trust relationship with customers. Offering recommendations on what financial institutions can do to build and leverage their trust advantage now, the working group identifies points of action in the age of digital transformation.

Banks from nine EU countries have endorsed a note seeking clarification on the definition of e-money transactions and the related fraud reporting requirements issued by the European Banking Authority.