Wprost Biznes / Newseria ·

From today, third-party firms can take a look at your bank account

On 2019-09-14 Wprost covered: PSD2, open banking, API.

From today, third-party firms can take a look at your bank account

O czym mówiliśmy

On 2019-09-14 Wprost examined PSD2, open banking and APIs. The case mattered to businesses because such regulations shape not only the wording of legal documents, but also the design of sales, payments, security and customer-communication processes. The discussion focused on the practical consequences of implementation and the risks arising from an overly narrow or overly formal reading of the rules. The outlet asked Tomasz Klecor for comment on the topic of the publication.

Co podkreślaliśmy

  • Expert commentary clarifies the practical consequences of regulation for businesses.

    What matters most is translating the rule into a business process, documents and communication with the user.

  • Legal risk usually arises at the intersection of the terms, the interface and the actual way the service operates.

    Implementation therefore cannot be reduced to a one-off text amendment.

  • Companies should review their documents and procedures on a regular basis.

    The pace of regulatory change means that updating documents once every few years is not enough in e-commerce, fintech or IT.

Najczęstsze pytania

What is a small payment institution (MIP)?
A small payment institution (MIP) is an entity entered in the register kept by the Polish Financial Supervision Authority (KNF) that may provide selected payment services within a limited scope. The MIP model is simpler than obtaining authorisation as a national payment institution (KIP), but still requires procedures, documentation and compliance with the Polish Payment Services Act.