Regulation & Standards
Published  16 MIN READ

Protect and Detect

Staying Ahead of Payments Regulations, Sanctions, and Fraud

Regulators are busy laying the groundwork for wholesale payments to become faster, cheaper, and more transparent. With the roll-out of ISO 20022, PSD3 on the horizon, SEPA Instant Payments becoming mandatory, and the UK’s New Payments Architecture replacing Faster Payments and eventually BACS, European treasury teams are facing significant change. Meanwhile, corporate sanctions management remains in one of its most complex phases from the past decade. And fraud prevention continues to be a critical concern, as fraudsters evolve at least as quickly as the safeguards developed to keep them out. Here, three specialists from NatWest examine the essential payments developments for treasury teams to prepare for.

Nothing is certain but death and taxes – or so the saying goes. But regulation could arguably be added to the list, especially in the world of payments. As innovation continues to hot up, with everything from variable recurring payments to CBDCs in the spotlight, regulators are working hard to ensure the framework around payments matches the pace and direction in which the industry is travelling. And always with an eye on balancing consumer and business protection against commercial needs, economic drivers, and competitive innovations.

But payments regulation isn’t always a case of playing catch-up with tech and behavioural trends. In fact, PSD2 (and the corresponding UK Payment Services Regulations – PSRs) was the catalyst for arguably one of the most significant shifts in the payments arena in recent times – open banking. Today, discussions are happening around PSD3, and the latest developments will inevitably impact corporate treasury teams.

UK and EU Payments Regulations and Developments

Regulators, central banks, and industry bodies across the UK and EU are laying the groundwork for wholesale payments to become faster, cheaper, and more transparent. But what market changes do treasurers need to be aware of?