FinTech Risk Management

Comprehensive Risk Management, based on "decision logic"/BRMS (Business Rule Management System) should integrate data from external sources and correlate events under different control frameworks, in order to produce baseline for identification and escalation of all potential anomalies: KYC validation, Regulatory compliance (sanctions checks, PEP checks), AML investigation, Transaction scoring.

Payment services (PSD 2) Directive EU 2015/2366

Revised Directive on Payment Services (PSD2) implements two big changes to EU payment system:

AISP Account Information Service Provider: consolidates customer’s bank account details from several different banks (balance, transactions, history) in one place (one application); e.g. Mint.com

PISP Payment Initiation Service Provider: merchants will get the payment directly from the customer’s bank without using any intermediary financial institution; e.g. Sofort Banking, SEPA direct debit, Giropay