European Union

Many in Europe and the U.S. view GDPR as Europe's first true data breach protection measure — in part because it requires notification of any breach within 72 hours. But they also see it as a complex and costly race to the May 25 deadline.

TransferWise is the first nonbank to become a member of the U.K.’s Faster Payments service (FPS), but with Brexit on the horizon, it has to make sure it is similarly invested in other markets.

Despite its popularity — or perhaps because of it — the cryptocurrency exchange Coinbase has been at the front lines of many of the issues plaguing the cryptocurrency market. Its new e-money license in the U.K. could go a long way to easing some of those pains.

So far, U.K. fintechs' options range from relocating to other countries to finding ways to offset negative effects by attempting to “Brexit-proof” their businesses. The latter option can still be a substantial undertaking.

Under GDPR, nothing can happen with the European consumer's data unless they explicitly opt in. American consumers tend to ignore the fine print on company statements regarding the potential uses of their data, leading to an environment where companies expect them to opt in by default.

Even if a business is located in the U.S., it’s where the service is delivered that determines if the GDPR rules governing data protection in the EU apply, writes Mia Papanicolaou of Striata.

It's not just big banks. Even U.S. community banks may be subject to the General Data Protection Regulation given the boundlessness of digital commerce.

By replacing human judgment with other identity technologies, higher levels of verification accuracy can be achieved in a fraction of the time, writes Romana Sachová, co-chair of the Security and Biometrics Workgroup at Mobey Forum.

The latest draft of EU securitization rules would ban securitization of loans where borrowers certified their own income, raising concerns about banks’ ability to unload roughly $1 trillion of nonperformers.

The European directive is an opportunity for U.S. institutions to update data protection, writes Seth Ruden, senior fraud consultant for ACI Worldwide.