Banca Italia - Piazzese - v2 ENG

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Revised directive on Payment Service,What will happen in the future?

Rosario PiazzeseExecutive Manager Codd&Date SuisseClusit memberTeam Leader Oracle Community for Security Europrivacy.info writer

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Agenda• Scenario• Rules and Regulation• Next regulator’s trends• Digitalization• Echnological issues• PSD2• Final summs



Scenario



Unicredit BancoPopolare

BancoPopolare

BPM

Scenario


Morover, this revolution mainly consists in new rules and regulations that delas with:

• Credit system (Basel I, II, III)

• Account holders/investors risk mngmt (MiFID)

• Fast and risk controlled credit access (SEPA, PSD)

Finally, in a nearby future the scenario could be:

• Consolidation of market’s players (banks, finacial institutions)

• The evolution or the creation of new rules that will lead to a reinforcement of the control of the market’splayers. (Basel III, MiFID2, (CRR)2, ecc.)

• Hi-Tech evolution and mngmt evolution (digital innovation, SEPA2, PSD2)

During this latest decade the Italian bank world has undergo a deep revolution.This revolution deals with new technological features, new regulator’s trends and new internal processes and bestpractices .

Intesa / Unicredit UBI Intesa S.

Paolo

2003-7 20071998 2007 2007 2016


Scenario


Data Governance

Segregation ofduty

Need toknow

Credit riskAsset’sadeguacy

Risk Mngmtand data-

qualitymngmt

Governance

model risk

Liquidity


Rules and Regulation


Compliance Rights Security Measures Best Practices

SEPA2Single Euro Payments Area • Access to infos • RID

• Data Governance(ISAE 3000)

• Need to know

MiFID IIMarkets in Financial Instruments Directive

• Access to infos• Data Privacy

• RID• Data Protection

• Segregation of duty• Need to know

PSD2Payment Services Directive

• Access to infos• Data Privacy

• RID• Data Protection

• Data Governance• Need to know• Segregation of duty• Defense in depth

TARGET 2Trans-European Automated Real-Time Gross Settlement Express Transfer System

• Access to infos • NIS • NIS

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Individual rightsrespect Attetion to the

finacial/bankingsystem

Rules and regulation


Regulation’s future


PSD2

SEPA2

MiFID II

Comunication

Brokerage elimination andcrossborder themes

Crossborderelectronic payments

integration

Governancemodel

Taget 2NIST

Digitization


Digitization

Cloud

Mobile

Big Data & Business Analysis

Digitization

IDC Banking Forum 2016


PSD2: access interfaces to bank systems standardization


Technological issues

SEPA2:transaction management practices would bestandardized

MiFID II: risk management processes standardization


PSD2



Timeline


The text itself«The Directive on Payment Services (PSD) provides the legal foundation forthe creation of an EU-wide single market for payments. The PSD aims atestablishing a modern and comprehensive set of rules applicable to allpayment services in the European Union. The target is to make cross-borderpayments as easy, efficient and secure as ’national’ payments within aMember State. The PSD also seeks to improve competition by opening uppayment markets to new entrants, thus fostering greater efficiency andcost-reduction. At the same time the Directive provides the necessary legalplatform for the Single Euro Payments Area (SEPA).»



AutenticationTrust

Payee

PayerPaymentservicesholder

Paymentoperation Blockchain?

Art. 58 e 59


Process: PSD & PSD2

P B

SP SP


• Accountability

• Trust XS2A

• Awareness


Management consequences

B SP

B P


High-tech driversWhite labelTechnology

(’’API Store’’)

OrchestrationXS2A


The integration between differenttype of network must be keep inmind (digital divide). The actulasituation in Italy is not as good aseveryone can think, especially in themodbile ones.The PSD2 «actros» must have theability to keep in touch (digitallyspeaking).


Network e XS2A


• API– Interoperabilità nativa e ’’trasparente’’– API Store completo ed aggiornato (aggiornamento continuo)


White Label systems

• Incomers– Mercato vs controllo– White Label e standardizzazione

• Regulators– Art. 58 e 59 trust vs controllo– Segnalazioni di vigilanza: nuovi e vecchi stakeholder

API• Interoperability • API store updated and full (continious updating)

Incomers• Market vs control• White label and standardization

Regulat and ors• Art. 58 and 59 -> trust vs control• Supervision reports


Orchestration

Integration

API

Instruction


Technlogical impact and data Governance

Data Governance

Data protection: privacy vs XS2A

RID:Privacy vs availabilityPrivacy of the single operation and of the

operators.

Incomers:ClusteringProfiling

Market Control

XS2A:Information’s integrity

Information’s availabilityInformation’s reliability

Time to market

DIGITIZATION


Main themes:• Information’s access management• Data privacy management• Availability and integrity of a data• Segregation of duty• Data Governance


…In the end


CODD&DATECODD & DATE offers since 1985 professional consulting services in the IT and digital market. Codd&Date Suisse, founded in 2015, has the aim to use skills and qualities aquired during 30 years of international activity in the Swiss market.Consulting means to be close to the customers to design, supervise and ensure the maximum performance of each operational strategy. Codd&Date Suisse is not a Technology Provider so is not involved in typicaltechnology qualifications programs.And for every solution we plan and implement the most effective approach, providing the customer with a team of services supported by professionals specialized in each industry. Third party advisory role is one of our mainassets. Services- IT Strategies & Governance- Project Management- IT Governance, Risk , Compliance, Audit & Security- IT & Data Architectures- Payments Architectures & ConsultingVIPERA PLCsince 2013 - is part of the Vipera Group, a company specialized in the mobile financial services, with a strong international presence, based in Milan and listed on the London Stock Exchange. This partnership aims to offer a growing B2B mobile services, with particular emphasis on solutions of engagement of consumers of all banking and financial services, integrated with Management Consulting and Strategy Advisory capabilities



Locations


MILANOOperational HQVia Pietrasanta n. 1420141 Milano SAN MARINO

Via 4 Giugno n. 39/B47899 Serravalle (RSM)COE SM 23384

BERLINSWITZERLANDVia Maggio, 1C – 6900 Lugano Bahnhofstrasse, 100 -8001 - Zürich

LONDONPLC HQ

STOCKHOLM


Rosario PiazzeseExecutive Manager

[email protected]+41 (0)78 8116090+39 349 3990794

https://ch.linkedin.com/in/rpiazzese

Codd&Date Suisse SaglVia Maggio, 1C – 6900 Lugano

Bahnhofstrasse, 100 - 8001 - Zürich+41 (0)91 2601609+41 (0)44 562 [email protected]

Contacts

mailto:[email protected]

https://ch.linkedin.com/in/rpiazzese

mailto:[email protected]

http://www.codd-date.ch/

Banca Italia - Piazzese - v2 ENG

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