PSD3, PSR & FiDA: Overview of the future regulatory framework applicable to payment services and financial data

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As the financial industry continues to evolve at a rapid pace, keeping up with the latest regulatory frameworks is crucial. The proposals for Third Payment Services Directive (PSD3), Payment Services Regulation (PSR), and Financial Data Access regulation (FiDA) are at the forefront of shaping how payment services and financial data will be managed, safeguarded, and utilized in the banking and insurance industry.

Throughout this course, we will provide you with a detailed overview of these essential draft regulations. We will explore how PSD3/PSR build upon their predecessors, aiming to strengthen licensing requirements, enhance customer protection, fight against fraud,...

Additionally, our journey will take us into the realm of financial data access, where we will uncover the new mechanisms designed by FiDA to govern the handling and sharing of financial information. With the proliferation of digital transactions and data-driven services, understanding FiDA is vital for financial institutions, insurance companies, fintech’s, and data custodians alike.

By the end of this training, participants will be able to:

gain a comprehensive understanding of the key provisions and components of the proposals for PSD3, PSR, and FiDA;
conduct an initial assessment of how PSD3, PSR, and FiDA may impact their respective institutions in the future;
recognize the interplay between regulatory requirements and their institution's operations in the context of payment services and financial data;
identify potential areas of innovation and adaptation required to align with the evolving regulatory landscape;
utilize acquired knowledge to contribute to strategic decision-making processes related to payment services and financial data management.

These objectives aim to empower participants with the knowledge and skills necessary to navigate the complexities of the proposals for PSD3, PSR, and FiDA, and to proactively address their impacts within their respective institutions in banking and insurance.

Total price *

Members: € 330
Non-members: € 360
Partners/ BZB: € 330
Incompany: tailor-made, prices on request

* Are you entitled to an allowance or subsidy?
* Price: service in the context of continuing professional training, exempt from VAT

CPD Hours Banking: 3h general
Insurances: 3h general
Compliance: 3h

Continuing Professional Development

Please let us know you're interested in this training should there be no date available, the planned date does not suit you and/or this session is full. As soon as about 5 people are registered on the interest list, we will propose a new course date. Your registration on the interest list is free of charge and without any obligation.

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Target group

The training course can be followed by various target groups:

legal and regulatory professionals;
compliance officers;
fintech entrepreneurs;
data protection officers;
technology and IT professionals;
risk managers;
financial analysts and consultants;
payment officers;
data analysts;
data stewards;
…

Required prior knowledge

Advanced level training: this training requires a general basic knowledge of the subject.

Programme

CONTENT

Introduction
- Importance of Regulatory Framework in Financial Industry
Current regulatory landscape
- PSD2 (Second Payment Services Directive)
- EMD2 (Second Electronic Money Directive)
- Key Features and Implications
Context and structure of the reform
- Rationale for the reform
- Objectives and goals
Timeline of regulatory changes
- Phases and Key Milestones
- Transition Periods and Deadlines
PSD3: Overview of main changes
- Enhanced consumer protection measures
- Strengthened security requirements
- Impact on Payment Services Providers
PSR: Overview of main changes
- Licensing and registration requirements
- Market participant obligations
- Changes in payment services landscape
FiDA: Overview of provisions
- Handling and sharing of financial data
- Data protection and privacy considerations
- Implications for data custodians and institutions
Preparation strategies
Critical Approach and Prospects
- Identifying Opportunities and Challenges
Conclusion

PRACTICAL INFORMATION

Duration: ½ day of training (3 class hours)
Hours: 09:00 to 12:30
Location: This training will be given online
Language: This training will be given in English
Additional information: How do you start the webinar? You will receive a login and password by email to access our platform. In the platform you will find a link. By clicking on the scheduled date the webinar will start via Webex.
In order to receive CPD hours, it is important to enter your own name and surname, follow the entire training day and answer the questions suggested by the trainer. Do not follow the training with several people on the same PC.

Methodology

You follow a ‘Live webinar’ digitally in a group. It is ‘learning-apart-together’. At an agreed time, the teacher and participants log in to a video conference tool, each from his or her own location and with his or her own computer. Via this tool’s camera, microphone and chat function, there is an opportunity for interaction and feedback, both from the participants to the teacher and vice versa. The teaching material consists as a basis of a presentation via the MyFA learning platform, supplemented with various other items (such as digital syllabus, presentation, audiovisual fragments, etc.).

Training material: