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  • Apple Identity Wallet - Disruption as a catalyst for digital transformation
    Apple's strategy of enforcing an identity management system on local devices to store and reuse sensitive customer information is potentially disrupting the exponentially growing and highly profitable identity market. Possible cooperation and mitigation models are discussed in detail in our blog post "Apple Identity Wallet - Disruption as a catalyst for digital transformation".
  • Libra against the rest of the world
    FINMA is specifying the regulation of stable coins, formulating high requirements and also taking a stand on Libra. The comments cast doubt on the short-term launch of Libra in the first half of 2020, especially as other national regulators (particularly Germany and France) are explicitly positioning themselves on Libra and first members of the Association are questioning their support. At the same time, the Chinese stable coin developed in the state-initiated DC/EP (Digital Currency/Electronic Payments) project remains largely unnoticed by the media in Europe and the USA. Although the danger of the international central banking system being undermined by DC/EP is not perceived as acute, the "China-Coin" is still controversial due to its potential for political abuse. The market, regulation and supervision in the USA and Europe, however, have yet to provide their own answer to the gap in supply for efficient, scalable digital currencies addressed by Libra and DC/EP.
  • Quo vadis PSD2?
    On 14th September 2019, the obligations for strong customer authentication of the PSD2 will take effect. As a reaction to the ongoing discussion since then and the continuing lack of clarity regarding the interpretation of the implementation requirements specified in the final "Regulatory Technical Standards (RTS)", the EBA published a further position paper on 21st June 2019 - less than three months before the RTS came into force - which, according to the EBA, was the final position paper.