Connected Magazine
Wise calls out banks on transparency
Fintech says big banks aren’t playing by the rules on cross-border payments
Big banks in Europe are ignoring EU rules on cross-border payments which makes for an uneven playing field for fintech companies, according to Wise.
The British money transfer firm wrote to the EU’s financial services commissioner Mairead McGuinness claiming that traditional banks are not fully complying with EU rules on transparency on cross-border payments.
The revised Cross Border Payments Regulation, more commonly called CBPR2, is a suite of EU rules that aims to lower the ...
