The framework of digital identity is about to be revolutionized in the Czech Republic. A group of deputies is proposing a bill that will allow banks to participate in the state digital identity scheme. Bank ID is intended to be used to access eGovernment services but also some services in the private sector.… Continue Reading
On Friday 29 March 2019, the Economic University in Bratislava hosted the recurring session of the Center for Financial Innovations established by the Slovak Ministry of Finance. We participate in these sessions, along with other representatives of academics, banks and fintech companies. The focus of the event was a discussion related to the EU’s action … Continue Reading
Many countries inside the European Union are still struggling to come up with clear regulations that would provide a predictable set of rules for the blockchain technology. However, smaller nations like Liechtenstein and Malta have sorted it out.… Continue Reading
On 8 March 2018, the European Commission (EC) published its long-awaited new FinTech Action Plan. The EC understands FinTech to be technology-enabled innovation in financial services, and the strategy covers developments related to new technologies which are changing the financial industry and the way consumers and firms access services. At the same time, the action … Continue Reading
On 13 January 2018, a new regulation for the provision of payment services will come into force in the Czech Republic, introducing the most significant changes to the Czech banking market in recent years. Newly Regulated Payment Services This new regulation (Act No. 370/2017 Coll.) has been adopted in the Czech Republic based on EU … Continue Reading
The Polish Financial Supervision Authority (KNF) recently published (on 12 January 2018) a long-awaited statement relating to the “selected regulator’s expectations” as regards the interim period(s) relating to the implementation of the Payment Services Directive 2 (PSD2) in Poland. The statement is key for banks and FinTech companies (TPPs) to understand how to operate until the … Continue Reading
If you are in the finance world you will have heard the word “FinTech” (unless you are having a gap year or are living under a rock), one of the most popular finance buzzwords in use today. Some argue that FinTech may be a bubble – and one that is set to burst shortly – … Continue Reading
