PSD 2-FCA publishes response to EBA opinion on strong customer authentication (SCA)

Industry News | 28/06/19

The Financial Conduct Authority (FCA) has published its response to the European Banking Authority’s opinion of 21 June 2019 on strong customer authentication (SCA) under the revised payments services directive (PSD2). The FCA’s opinion says that while the deadline for complying with the SCA regulatory technical standards remains 14 September 2019, it recognises the challenges inherent in meeting this deadline, and says it will not take enforcement action against firms if they do not meet relevant SCA requirements from 14 September 2019, where there is evidence that they have made efforts to comply with the plan.