ZAIT – Comparison to BAIT

At the same time as the Banking Authority IT Requirements (BAIT), the German Federal Financial Supervisory Authority has also updated the Payment Services Authority IT Requirements for Payment and E-Money Institutions (ZAIT). The following blog post deals with the changes to the various requirements and analyses the differences between BAIT and ZAIT. It can be said at the outset that, in comparison, six chapters have remained the same in terms of content, five chapters have changed in part and the changes in the area of "outsourcing" have changed significantly. Furthermore, ZAIT introduces more fine-grained specifications, a framework with target formulations and the freedom of implementation with appropriate measures increasingly becomes a catalogue of measures.

Swiss Instant Payments - burden or opportunity for banks?

Instant Payments (IP) are about to become a reality in Switzerland, and as such, will be quickly accepted and expected by customers as the new normal. Simultaneously, IP readiness will require comprehensive adaptations and adjustments in existing processes as well as IT landscapes of banks, thereby limiting the implementation effort from “a lot” to “a whole lot”. The need for Swiss banks to take action and decide on an implementation strategy for Instant Payments is imminent. Our payments experts Tatsiana Bychkouskaya, Tobias Krück, Fabian Meyer and Kenneth Chu Sam explain in their latest blogpost „Swiss Instant Payments – burden or opportunity for banks?“, how Swiss banks can leverage these complex adaptations as an opportunity to gain strategic edge.

Development of a digital bank in the Middle East region​

A leading telecommunications provider wants to offer a digital mobile banking solution. In the underlying market, there are already providers for digital payment solutions, such as salary payments, but not yet a complete digital banking solution.
The demand for cashless payments is very high due to the hardly developed ATM infrastructure on site. However, the client does not yet have a banking licence, which is necessary for further market roll-out.
The main objectives of the project are thus the development of mobile banking apps for the iOS and Android platforms, the establishment of a modern, technical infrastructure and the training of internal employees to further develop the solution internally and to start banking operations.


Weak customer authentication - Why PSD2 SCA requirements are just now taking effect and why this is an opportunity for banks

In this whitepaper, CORE analysed the consequences of the tightened PSD2 SCA requirements using a market analysis with more than 100 issuers examined. In addition to the status quo, challenges and opportunities for banks are outlined and solution patterns identified.

SEPA Request-to-Pay – Innovation driver or a castle in the air?

The growth of e-commerce and non-cash POS payments has increased significantly, benefitting card organizations in particular.

RTP offers an opportunity to reorder the balance of power: embedded in an E2E payment instrument, it could offer advantages for end-customers, merchants and banks - especially in terms of costs and convenience.

In addition to the chicken-and-egg dilemma of adoption, there are further challenges that make players hesitant about product development.

These could be resolved in the short term, provided the measures proclaimed in the EU Retail Payment Strategy are implemented. Could this be the missing piece of the puzzle for SEPA-based retail payments?

The Retail Payments Strategy of the EU Commission

The EU Commission identifies Retail Payments as the lifeblood of the European economy and publishes in the sense of open strategic autonomy’,a paper to promote pan-European solutions and reduce dependencies on global actors and platforms.
Central to this is the enforcement of SEPA instant payments, flanked by regulatory measures to imporve competition and establish SEPA as an international standard.
If implemented consistently, this will have an enormous impact on the infrastructure and business relationships of financial service providers, merchants and their customers. 
But early and smart acting also enable enormous opportunities.

Value maximisation in human resources through cloud BPO

In today's company landscape, most HR departments lack an understanding and active involvement in business strategy development. Instead significant capacity is allocated for repetitive processes and commodity services such as HR management. In this blogpost, we outline strategies to transform HR from a cost-center into a primary strategy execution lever effectively eliminating administrative overhead.

Transforming the Core. Splendor and Misery of the Inevitable

Macroeconomic conditions, high regulatory pressure, and increasing customer requirements are driving impetus in operational IT management. Successful transformations require that technology management is understood as an integral part of a strategy and that strategic, organizational, and technological requirements are differentiated and taken into account in both the solution design and the control of measures. In addition, the pressure to change must be met promptly and more decisively than in the past.