What is currently moving the industry?
What will be possible in 20 years?
What if visions of the future become solutions for the present?
Let’s find out!
„The SCA launch: a 5-minute instant soup?“
On 14.09.2019 the martyrdom of European payment diversity in electronic payments began
When the European Commissioners were considering an amendment to the PSD1, which came into force on 1 November 2009, the desire for greater security in electronic payment transactions was one of the driving factors, along with the idea of a level playing field in the payments market. Very noble and also challenging goals…
„Status Quo in B2B Payment Transactions: From Desire to Reality“
Are banks forgetting B2B Payments?
While citizens in Germany are consciously or unconsciously using new and innovative forms of payment beyond cash, mobile-only banks and other payment means driven, among other things, by Fintech’s, the use of innovative methods is stalling in other areas of banking…
„The OSTHAVEN view of the present & future of Artificial Intelligence in Banking & Payment“
Are we really abolishing ourselves?
The topic of artificial intelligence (AI) has been discussed so often in recent days. The German government plans to spend several billion Euros to make Germany fit and to keep up the pace in the dramatically increasing competition of R&D within the field of AI. Companies from Silicon Valley compete with transfer fees for demanded researchers. One might think that AI is about to seize world domination…
„Curse or blessing – from the (mis)understanding between banks and FinTechs“
Banks and FinTechs are now in reality?
Banks and FinTechs, not so long ago still like fire and water, have apparently arrived in reality in the meantime. The FinTechs are increasingly looking for supporters for their own ideas and find these more and more in the banking environment, because here too a fundamental rethinking has taken place. And each of the two formerly opposing groups seems to have found its position in the game of customer favor and is focusing on its strengths…
„Quo vadis foreign payment transactions?“
New providers are pushing into a market dominated previously by banks
So far, banks in particular have assumed that foreign payment transactions are a monopoly of the banks. Until now, it has been complicated and time-consuming to provide this service. . This “quasi-monopoly” of banks in foreign payment transactions (cash (money) transfers from Western Union and Co. excluded) is slowly dissolving and new providers are successfully establishing themselves in the market for foreign payment transactions…
„Bank diversity in the conflict between innovation and economic efficiency“
Continuous decline in the number of German banks and savings banks.
According to the German Bundesbank, there were 1,823 credit institutions (banks and savings banks) in Germany at the end of 2017; compared with 2007, this represents a reduction of almost 20 percent.
According to the Savings Banks Association, the number of savings banks alone has fallen to 385 (a decline of 28) since 2015. The reduction in the cooperative financial sector in the same period was actually 106, down to 915 …
„PSD2 – A race against the clock?“
What banks should consider for timely implementation.
On 13th January, 2018, the PSD2 came into force and has been the law since then. But there can be no talk of relaxation among banks in Europe, because there is still a lot to do. The regulatory standards for strong customer authentication and common and secure communication, RTS for short, issued by the European Banking Authority (EBA) give financial institutions 18 months to implement them. That sounds like a lot of time, but …
„3D Secure 2.0 – Facelift or Quantum Leap?“
The new generation of cardholder authentication “3D Secure 2.0”
3D Secure has often been (and still is being) promoted as the magic miracle cure, which should cure the misery of default on the merchant side. Initiated by VISA in the early years of this millennium and prominently placed as said miracle cure, however, the teething troubles soon showed up – first and foremost the problems with the “conversion rate” …
„The Future in Banking
Once Science-Fiction – today it becomes reality.
Trends come and go – this also applies to payment transactions. The drivers ofinnovation are often technological progress, regulations, costs and thecustomer. But what are the latest developments and research in this area? An OSTHAVEN perspective on the future in banking and payment. Now, be honest, how many different passwords do you actually use for youreveryday business? Studies have shown that …
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„Options for PSD2 implementation“
Compliance only vs. Exploitation of Opportunities
Although in force since January of this year, in the eyes of many PSD2 will only become really relevant and complex with the final entry into force of the RTS (Regulatory Technical Standards for PSD2) on 14th September 2019.
In addition to Strong Customer Authentication (this is worth a separate contribution…), the RTS will …
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„Banking is necessary, Banks are not.“
Der Zahlungsverkehr als bedrohte Kernkompetenz
Das Zitat „Banking is necessary, Banks are not“ bietet ein gutes Entre, wenn es um die Zukunftsgestaltung von Banken geht und ist daher fester Bestandteil von PowerPoint-Slides, die vor der Führungsebene in Banken und Sparkassen gehalten werden. Es lässt sich in diversen Artikeln und Magazinen wiederfinden und wird häufig im Zusammenhang mit der Disruption im Finanzsektor genannt. Die Worte stammen von Bill Gates und wurden vom selbigen bereits 1994 kundgetan. Zu der Zeit befand ich mich in der vierten Klasse und war schlicht über die Einfachheit des Bankensystems verblüfft. Wenn man Geld brauchte, ging …
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