About EBA
The Euro Banking Association (EBA) released a recommendation note for euro instant payments requiring FX conversion.
The note was put together by a sub-group of the EBA Practitioners Group on Instant Payments, and 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.
In May 2024, the EBA ran a stocktaking survey on cross-border payment initiatives among its member banks. First findings from this survey are available in the following sneak preview slideset:
At the EBA Annual General Meeting 2023, EBA Board Member Krister Billing (SEB) was elected Deputy Chairperson. He succeeds José Vicente (Banco Comercial Português) who has retired from the EBA Board.
Furthermore, EBA Board members Yvonne Barrie (Bank of Ireland), Cristina Conde Yubero (CaixaBank), Claudio Magnaghi (Banco BPM), Simon McConnell (Citibank Europe) and Edwin Sanders (Rabobank) were re-elected for another three-year term.
Download the Report of the Board to learn more about the EBA’s activities in 2023.
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 (EBA) announced today the publication of 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 on the EBA website.
Volume 18 Number 1 of the Journal of Payments & Strategy Systems by Henry Stewart Publications contains two peer-reviewed articles by the EBA.
In “A pan-European fraud taxonomy: Do you speak fraud?“, Annick Moes and Meral Ruesing make the case for harmonising fragmented fraud terminologies and PSP-internal reporting requirements. Thomas Egner co-authored the article “Know your customer: Unravelling the challenges” which explores how EU member states can make a joint effort to help the financial industry prevent money laundering and combat the financing of terrorism more efficiently.
The training program will provide participants with a comprehensive, detailed overview of the world of payments, including the context and concept, the relevant framework, and future developments. The training consists of the four modules, spanning four days, and is aimed at industry professionals (e.g., product managers, business analysts, payments IT professionals, sales/account managers or consultants).
The rise of digital banking puts a premium on partnerships, but they require substantial investments and organisational changes from both parties. Together with Bain & Company, the EBA explores the key factors that contribute to a successful partnership.
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