Incoming Payments Reforms Put Banks At Risk, Report Finds

Law360, London (October 4, 2017, 12:12 PM BST) -- Regulatory changes that are helping technology firms make advances to compete in the payments sector also present a significant threat to bank business models, a new report cautions.

Boston Consulting Group and the Society for Worldwide Interbank Financial Telecommunication, a digital messaging network, found that regulations such as the incoming Payment Services Directive in Europe are driving the digitization of the financial sector — to the advantage of newer players in banking.

“The situation of midsized banks is the most problematic,” the report, published late Tuesday,...
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