Source: Amadeus

The way online payments are made in Europe will enter a new era from 31st December 2020 as the Strong Customer Authentication (SCA) requirements of the Payments Services Directive II come into force.

Covid-19 has led to a strong increase in the use of fintech products and services, prompting central banks and other financial authorities to step up their own regulatory innovation efforts, according to a report from the World Bank and the Cambridge Centre For Alternative Finance (CCAF).

The European Central bank has blamed a software defect at a third party technology provider for an outage that downed the Target2 settlement system for almost 11 hours on Friday.

Credit referencing agency Experian has been ordered to make fundamental changes to how it handles people’s personal data after an investigation into its data broking activities by the Information Commissioner's Office uncovered serious breaches of privacy laws.

Source: CommBank

Commonwealth Bank has partnered with the Australian Computing Academy (ACA) to help educate children as young as 10 years of age about cyber security.

Sopra Steria says it will take a number of weeks to restore its systems to full operating capacity after confirming an attack by hackers using a new version of Ryuk ransomware.

A complete failure of all payment transactions within the Target2 system was experienced for several hours on Friday, with backup systems and contingency modules also initially unable to function.