Nets’ Post

This was such an interesting conversation, and if anything it firmly highlights why pretty much everyone in the financial sector should have a good look at their digital wallet and eID strategy. Have a listen, and let me know your thoughts. #eID #DigitalWallet #DigitalAssets

👀 Watch OIX member Nets latest webinar which explores the transformative impact of the EUDI Wallet on European financial institutions and how banks can prepare for these changes #digitalwallets #digitalID #financialservices #digitalfinance Access the webinar here 👉 https://loom.ly/ERDFpaU

📅 Still time to register:  Nets webinar on how banks can prepare for the EU Digital Identity Wallet! Update:  ❓ Do you want to learn how banks can prepare for the impact of the EU Digital Identity Wallet? Nets is hosting a webinar on Wednesday 19 June with Intesi Group and Ubisecure which will explore the transformative impact of the EU Digital Identity Wallet on European financial institutions, especially banks. Digital ID experts Kristian T. Sørensen, Viky Manaila, and Oscar Santolalla will give unique insights into the regulatory landscape, digital transformation, and strategic innovation of digital wallets and trust services. The panel will discuss: 👉 The EU Digital Identity Framework and its critical components that will redefine financial services.  👉 The crucial role banks could play in the identity framework.  👉 How the EUDI Wallet will enable secure and seamless access to services across borders. 👉 The impact of eIDAS regulation, which will reshape digital ID and compliance requirements. 👉 Implementation strategies to prepare for successful wallet integration. Register to attend: https://lnkd.in/d9dmUhQC We aim to address the issues that matter most to you. Please submit any questions or specific topics you would like us to cover during the webinar in the comments 🙏 #eID #DigitalIdentity #eIDAS #EUDIwallet

How banks can prepare for the new European Digital Identity framework and EUDI Wallet? What are the benefits for financial industry and their customers? Join me, Kristian T. Sørensen and Oscar Santolalla in a webinar hosted by Intesi Group, Nets and Ubisecure. We will give you insights into this new regulatory landscape, covering: 👉 The EU Digital Identity Framework and its critical components that will redefine financial services. 👉 The crucial role banks could play in the identity framework. 👉 How the EUDI Wallet will enable secure and seamless access to services across borders. 👉 The impact of eIDAS regulation, which will reshape digital ID and compliance requirements. 👉 Implementation strategies to prepare for successful wallet integration. Register to attend: https://lnkd.in/d9dmUhQC #digitalidentity #eidas #eudiwallet #digitalwallets

#eIDAS2 #EUDIWallet #EUDigitalFramework #Bank #Compliance Interesting and informative webinar organized yesterday, Thursday, June 20, by Ubisecure, Intesi Group, and nets on the impact of the EU Digital Identity Wallet on the financial sector, specifically focusing on how banks can prepare? During this webinar, the speakers addressed the following topics: - The crucial role banks could play in the identity framework. in providing identity wallets. Trust is a cornerstone. Banks are in a key position to deliver.    - The EU Digital Identity Framework and its critical components that will redefine financial services.  - Cross-border transactions : Learn how the EUDI Wallet will enable secure and seamless access to services across borders.   - The eIDAS regulation that will reshape digital identity and compliance requirements for banks.  -Implementation strategies to prepare for the wallet integration. Consolidation of Identity verification systems paves the way. Thank you very much for your time and for the quality of your responses.

What is Parabit's position in the cash versus digital debate? We've got the inside scoop, supported by compelling examples. Amidst the rapidly evolving digital payment landscape, we maintain a strong belief in the enduring value of cash. While digital transactions continue to surge, the tangible nature and universal accessibility of cash ensure its continued relevance in everyday commerce. Cash serves as a lifeline for individuals without access to digital banking or payment methods, particularly those residing in rural or underserved areas, or lacking access to (or knowledge of) technology and banking infrastructure. Moreover, cash transactions offer a level of privacy that digital counterparts may not afford. Many individuals opt for cash to safeguard their anonymity and steer clear of potential data breaches or surveillance linked to digital payments. Unlike digital systems prone to technological glitches or connectivity issues, cash transactions remain unaffected, providing a reliable means of conducting business, especially in areas with unreliable digital infrastructure. In times of crisis, such as natural disasters or health emergencies like pandemics, cash becomes indispensable. Its availability ensures individuals can procure essential goods and services even when digital systems falter. For many, the simplicity and tangibility of cash hold a timeless appeal, unlikely to wane as digital payments advance. According to Reuters, "JPMorgan Chase (JPM.N) said on Tuesday it was embarking on one of its most aggressive bank branch expansions in recent years, with plans to add more than 500 new U.S. locations by 2027 to broaden its footprint in areas where it is under-represented." (Source: https://lnkd.in/e5DKsDJ5.) This expansion serves as a testament to the enduring importance of cash in the financial landscape, highlighting the enduring demand for physical branches and access to cash, despite the rapid digitization of banking services. In short: The need for cash isn't going anywhere. 

Last week, Notabene's Regulatory and Compliance team submitted a consultation response to the European Banking Authority (EBA)'s Travel Rule Guidelines. It was important for the industry to participate as the EBA's proposals are more stringent than the EU's Transfer of Funds Regulation in several respects. We've highlighted key examples and our feedback below. Additionally, some aspects of the EBA Guidelines would benefit from clarification. In particular, the requirements that apply to transactions over €1,000 involving third-party self-hosted wallets need further clarification, as the Transfer of Funds Regulation does not specify the obligations in such scenarios. Read our full response 👉 https://bit.ly/434Wf1h. Sign up for our TFR & EBA regulatory series 👉 https://bit.ly/3TmbtMb. #TFR #EBA #cryptocompliance

Exciting news! Earlier this week, the CFPB released the final 1033 rule, establishing open banking regulations in the U.S. 🇺🇸 If you’re interested in learning more about how this will impact products and services that leverage consumer-consented banking data (like consumer sharing bank account transactions), don’t miss the FDX Virtual Summit on November 12-13! It’s a great opportunity to hear from industry experts and dive into key topics around data standards and product compliance with the new regulation. #OpenBanking #DataStandards #FinancialServices #FDX

European Digital Identity timeline is now clear🕛 The European Commission has just released its first implementing acts, setting critical deadlines for financial institutions and payment service providers around the European Digital Identity: Key Milestones: - Q4 2026: All EU Member States must provide the final EUDI wallet to their citizens - Q4 2027: Acceptance of EUDI attestations by banks, payment service providers, and relying parties for user identification, authorization, authentication, digital signatures ⏰Given this ambitious timeline, organizations need to start preparing now. The implementation window is shorter than it appears, considering the complexity of integration. Need guidance on your EUDI wallet implementation strategy? Let's connect to discuss how we can support your transition.

On October 10-11, I attended the INFINTECH conference in Montenegro. I was thrilled to listen about development and points of growth in the banking sector in different countries. Key points that seemed especially interesting to me: - full remote servicing without the need for the client to appear in a branch: Lyubomir Tankishev demonstrated an analysis of several banks' current capabilities of providing online service, highlighting which aspects need to be improved; - creation of Bliq online payment system in Poland presented by Magdalena Kubisa and development of an application for fast payments system in Hungary presented by Róbert Kiszely. Such systems have already been implemented in Russia, so it was interesting to see the experience of other countries; - various discussions on the topic of PSD2: whether the banks are ready to exchange client data and the advantages of open banking; - discussion of ecosystems as a driver for growing your business when it feels like your company has reached its limit lead by Goran Markovic; - development of a unified system for identifying a client using biometrics for quick verification during online payments presented by Gabriel Ghita. I am grateful for the opportunity to attend this event and hope to return to INFINTECH in the future.