Insights from industry leaders
The Lithuanian Banks Association (LBA) recently announced its plan for ensuring that 90% of the population has cash withdrawal within 10 kilometres. In an age of digital payments, is cash really so important? And what can this situation in the Baltics tell us about the future of payments across Europe? Absolutely and quite a lot, actually.
After almost two years of sharply increasing ecommerce, it’s no surprise that this year's Black Friday saw a huge number of online transactions worldwide despite supply-chain woes. This Black Friday was also the first to see the EU’s payments security act, known as PSD2, in full effect. The act, which aims to secure payments across the block, includes obligations to secure online payment through verifying customer identity.
Business continuity management (BCM) plays a vital role in the financial industry. To ensure that companies meet certain standards, annual audits are carried out. When it comes to BCM, it mainly involves ISO 22301, which describes the requirements for a BCM system to protect the company from disruptive events, reduce the likelihood of these events, and recover from said events.
