Payment Services Providers (PSPs) such as banks are expected to undergo significant transformations as a result of the entry into force of the EU Regulation 2024/886 on instant credit transfers in euro (so called “Instant Payments Regulation”).
The new regulation aims at making instant payments fully available in euro to consumers and businesses in the EU and in EEA countries, allowing transfers of funds within ten seconds 24/7 and 365 days per year.
While the new rules present challenges for banks and other PSPs in Luxembourg, they also offer opportunities for innovation and growth in the rapidly evolving payments landscape. Adapting to these changes effectively will be crucial for maintaining competitiveness and meeting the evolving needs of customers.
Duration: 1h30
Language: Available in English
Number of participants: up to 15
Available as intra-company course (i.e. dedicated session on demand)
Objectives
Our training is focused on:
- exploring the legal requirements embedded in the Instant Payments Regulation, taking into account the clarifications provided by the European Commission immediately after its entry into force.
By the end of this training, the participants will be able to:
- identify the impacts of the new regulatory requirements on their organisation;
- explain the relevant regulations to the other employees and the possible consequences of non-compliance;
- initiate an internal discussion on the design principles for a framework in line with the requirements.
Content
- Regulation presentation
- Operational aspects
- Solutions on the constraints, perspectives and options
Target audience
This course has been designed for banks and more specifically for their compliance officers, head of treasury, head of IT, head of back office, head of operations and risk managers.
Our lead experts
This training is coordinated by Michael Murray, Director at PwC Luxembourg, Teresa Leone and Jerome Warnimont, Senior managers at PwC Luxembourg.
Michael is a results-driven, experienced project manager/change manager with a background in the delivery of clearing and settlement, asset servicing, payments processing and regulatory initiatives.
Teresa has over 24 years of consulting experience. Over her career, Teresa has provided assistance to banks and other regulated entities on a wide range of regulatory and compliance issues across the spectrum of banking, payment, financial and insurance services.
Jérôme is part of the Technology Advisory practice of PwC Luxembourg with more than 13 years of experience in Advisory services.
During its career, he has gained experience in managing complex international transformation projects, mainly within the financial industry.
