From 1 January 2024, Payment Service Providers (‘PSPs’) will be required to submit to the new CESOP platform, on a quarterly basis, details of certain cross-border payments processed within the EU.
Affected institutions include:
Fully licensed banks and other credit institutions;
Payment institutions (i.e., issuers of credit/debit cards and acquirers of payment transactions);
Electronic money institutions and;
Post office giro institutions.
Given the EU's passporting rules, the reporting scope is comprehensive, potentially necessitating reports in one or more EU member states.
PwC, in partnership with Regnology, a leading RegTech provider, offers a turnkey solution to navigate this complex landscape. We offer flexibility with on-premises or SaaS solutions, or even a fully managed service by PwC.
How do we streamline your CESOP reporting journey?
Knowledge sharing and continuous updates on CESOP reporting requirements and local legislation
Workshops for scoping, impact assessment, and IT and data infrastructure development
Legal and data protection
Strategic discussions on CESOP reporting approaches (build in-house solution, buy technology, outsource, ...);
Data gathering, validation, and FIT/GAP analysis
Managed services contract for an end-to-end CESOP reporting solution via Regnology.
To provide you a first-hand experience of our solution, we invite you to a live webinar on Tuesday, 27 June at 15:00 CEST. We would be delighted if you could also attend to see the solution in action.
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Inge Stuyver
