ABOUT

There can be no doubt that the new Payment Services Directive (2015/2366/EC) (PSD2) is set to revolutionise banking services throughout the European Union (EU) and usher in a whole new host of unique and innovative payments systems and ideas. Given the sheer breadth of Payment Institutions affected by PSD2, the complexity of this new payments landscape should not be underestimated. Firms need to not only become PSD2 compliant, but without a shadow of a doubt they also need to arm themselves with strategic insights that will allow them to successfully navigate and thrive in this newly forecasted complexity of payments systems and institutions. This new and innovative Training course seeks to provide firms with highly comprehensive yet logical guidance through the new PSD2 framework, in addition to presenting insights into new strategic regulatory challenges and opportunities following the 13th January 2018 implementation date.

TRAINING PROGRAMME

SESSION 1: An Overview of the PSD and PSD2 Operational Frameworks

·     Overview of the Payment Services Directive(2007/64/EC) (PSD), Harmonization and Integration of Retail Payments in the EU; Consumer Protection; Payment Efficiency; and Payment Chain Security Risks.

·     Overview of the Revised Payment Services Directive (2015/2366/EU) (PSD2); Payment Services (Account Information Services (AIS); Payment Initiation Services (PIS); Payment Institutions (Banks, Building Societies, Money Remitters, E-Money Institutions, Financial Technology (FinTech) Platforms, Acquirer Payment Institutions, Non-Bank Credit Card Issuers and Merchant Acquirers).

SESSION 2: Understanding the New PSD2 Financial Landscape 

·     The PSD2 Operational Framework, the Single Euro Payments Area (SEPA); Payment Services Providers (PSPs), and Exemptions (Commercial Agency; Limited Network; Digital Device; Automated Teller Machines (ATMs)).

·     Third-Party Account Access, Account Information Aggregators, AIS Providers (AISPs), PIS Providers (PISPs), and Execution of Payment Transactions.

·     PSD2 Security Framework (Data Protection; Operational Risks; Security Risks; Authentication; Fraud Controls; Incident Notification).

·     Consumer Protection (Complaints Procedures; Dispute Resolution; Penalties; Surcharge Restrictions; Refund Rights; Liability for Unauthorised Transactions).

SESSION 3: PSD2 Strategic Regulatory Challenges and Opportunities

·     PSD2 Strategic Regulatory Compliance (Third Party Providers (TPPs), Access to Accounts (XS2A), Open Application Programming Interfaces (APIs), and Open Banking Technical Standards).

·     PSD2 Strategic Challenges and Opportunities for FinTech Firms, and a Review of Existing FinTech Firm Offerings (AccessPay, Adyen, AstroPay, Azimo, Currency Cloud, DoPay, Flypay, Droplet, Judo, GoCardless, Ixaris, Monese, MoneyMover, Osper, Mondo, Moni, Pockit, Revolut, SumUp, Yoyo).

SESSION 4: PSD2 Operational and Strategic Compliance

·     PSD2 Operational Impact; PSD2 Exemptions (Low Value Transactions; Subscription; Risk Analysis; Whitelisting); PSD2 Operational Compliance. 

·     Open Banking Implementation Entity (Open Banking Standard); FinTech Fortnite.

·     PSD2 Strategic Regulatory Compliance (Strong Customer Authentication; Access to Accounts; Third Party Providers; Open Application Programming Interfaces). 

·     PSD2 Strategic Challenges and Opportunities for FinTech Firms (Strategic Challenges; Strategic Opportunities; AISP Services); Practical Case Studies (Starling; Yolt; Alipay; Sofort (Klarna); Mint.com; Product Comparison Sites; Iwoca; Amazon, Facebook, Google); PSD2 New Innovations; Contingency Mechanism Exemption.

EXPERT TRAINER

Rodrigo Zepeda is Co-Founder and Managing Director of Storm-7 Consulting. He is an expert consultant who specialises in derivatives and banking and financial services law, regulation, and compliance. He is an expert in a very broad range of regulatory compliance frameworks such as FATCA, the OECD CRS, MiFID II, MAD 2 MAR, PSD2, CRD IV, Solvency II, OTC Derivatives, CCP Clearing, PRIIPs, BRRD, AML4, and the GDPR. He holds a LLB degree, a LLM Masters degree in International and Comparative Business Law, and has passed the New York Bar Examination. He was an Associate (ACSI) of the Chartered Institute for Securities & Investment from 2004 to 2014 and is now a Chartered Member (MCSI). He has created and delivered numerous conferences and training courses around the world such as ‘FATCA for Latin American Firms’ (Santo Domingo, Dominican Republic, Panama City, Panama), ‘MiFID II: Regulatory, Risk, and Compliance (London), and ‘Market Abuse: Operational Compliance’ (London), ‘AEOI (FATCA & CRS)’ (London, Lebanon, Dubai, Malta, Manama, Bahrain); AML/CFT: Operational Compliance (Dubai, London); MLRO: Operational Compliance (London).

He has also delivered numerous In-House Training Courses around the world to major international financial institutions such as The Abu Dhabi Investment Authority (MiFID II: Operational Compliance, Abu Dhabi, the United Arab Emirates); the United Nations Principles of Responsible Investment (MiFID II: Final Review, London); CAF, the Development Bank of Latin America (Swaps and Over-the-counter Derivatives, Lima, Peru); Eurex Exchange (CCP Clearing, Risk Management, Recovery and Resolution, Eschborn, Germany); European Energy Exchange AG (CCP Clearing, Risk Management, Recovery and Resolution, Leipzig, Germany); Rothschild Investment Management (UK) Limited (AEOI (FATCA & CRS), London); Resolution Life (AEOI (FATCA & CRS, London); CCP Clearing, Risk Management, Recovery and Resolution; Bethmann Bank AG (MAD 2 MAR, Frankfurt); Saxo Capital Markets (MAD 2 MAR, London); and Invesco Management, S.A. (AML/CFT, Henley); Validus Risk Management (OTC Derivatives, Eton).

For 2019 he has created some of the most cutting edge training courses available on the market today, including Artificial Intelligence in Banking and Financial Services; Supervisory Technologies (SupTech); The European Margin Rules; The 2018-2020 Collateral Paradigm; AML & CFT Advanced Practitioner; Virtual Currencies, AML, CFT: Operational Compliance; and Behavioural Persuasion Masterclass. He is a Reviewer for the Journal of Financial Regulation and Compliance and has also published widely in leading industry journals such as the Capco Institute’s Journal of Financial Transformation, the Journal of International Banking Law and Regulation, as well as e-books on derivatives law. Noted publications include “Optimizing Risk Allocation for CCPs under the European Market Infrastructure Regulation”; “The ISDA Master Agreement 2012: A Missed Opportunity”; “The ISDA Master Agreement: The Derivatives Risk Management Tool of the 21st Century?”; “To EU, or not to EU: that is the AIFMD question”; and “The Industrialization Blueprint: Re- Engineering the Future of Banking and Financial Services?”.

Disclaimer

ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc., and Storm-7 Consulting Limited is neither sponsored by nor affiliated with the International Swaps and Derivatives Association, Inc. (ISDA), and the public is hereby informed that Storm-7 Consulting Limited holds no commercial, private, or other relationship with ISDA.