EU shows a way forward for Bitcoin entrepreneurs
The European Banking Authority’s Opinion on Virtual Currencies (published 4 July 2014) will go down in history as a landmark document for the industry of ‘virtual currencies’ (VC). This is a different message than most media tell who systematically keep on amplifying the fact that ‘banks should avoid virtual currencies’. Let’s look beyond this and elaborate here more on the real messages in this well written report. The key importance of EBA’s message lies in the fact that a short term solution direction on ‘how to deal with virtual currency companies wanting a bank account’ is given to national legislators, who, on their turn, give guidance to EU banks.› Read more
Supplier adoption: 4 imperatives to ensure effective digital transformation of your supply chain
Today, corporates across industries consider the implementation of e-invoicing systems as part of their broader e-procurement strategy. Corporates take the lead in guiding their supply chain partners towards more efficient and dematerialized supply chain processes. While these digital transformation trajectories yield substantial benefits when executed properly, corporates face challenges in capitalizing on this opportunity in their supply chain.› Read more
Customer Due Diligence compliance through SCT and OBeP payments
We believe compliance does not inevitably lead to complex customer processes. Even better, we believe that there are several payment methods that, besides being a payment method, also partly function as a Customer Due Diligence (CDD) instrument....› Read more
Whitelisting: an SDD killer?
Although the SEPA end date is postponed a little, EU regulation 260/2012 requires banks to offer both black- and whitelisting functionality to their customers. This might result in an increase of rejected direct debits without this being the real intention of the consumer, significantly undermining the success rate of creditors. Vincent Jansen explains in his blog that whitelisting might kill SDD, although there are ways to solve the problem.› Read more