December 2015 edition
Table of contents
Editorial by Urs Rüegsegger, CEO SIX Group
1 billion Swiss francs for emergency plans
- The Swiss provisions for “too big to fail” (TBTF) require systemically important banks to create the conditions necessary to continue operating central functions such as payment transactions even in the case of threatened insolvency. Markus Ronner, in charge of implementing the TBTF regulations at UBS sheds light on the consequences.
EBICS – from electronic banking to European banking
- The Swiss financial center has been part of the EBICS company since mid-May 2015. The Swiss recommendation for implementation of the EBICS standard was published shortly before this. On the basis of a secured Internet protocol with multiple encryptions, EBICS facilitates the flexible, efficient, documented and secure processing of banking transactions using electronic signatures. The standard is about to receive an update.
What’s next for the migration of payment traffic in Switzerland?
The added value of real-time payments from the customer’s perspective
Hello IID, goodbye BC number
The token as a safe anchor in mobile payments
- Wherever there is money, thieves are not far off. This is equally the case in real life with classic pickpockets as it is in the digital world. There, cyber criminals are even more dangerous than run of the mill shoplifters because the prospects of gains are massively greater, as are the amounts lost. That is why tokens – series of numbers that are worthless to potential thieves – are being used in mobile payments.