A landmark year for the continent’s payments industry, 2018 oversaw the introduction of major new EU legislation. The shift towards open banking propelled by regulation was accompanied by new rules on fraud and security, as well as licensing and passporting, while further reforms took aim at cross-border payments and currency conversion. A string of anti-money laundering scandals rocked the EU, prompting reforms to how existing laws can be enforced and supervised, while data protection and cybersecurity topped policymakers’ agendas like never before. These developments took place against the unprecedented backdrop of the UK’s departure from the union and the shockwaves that sent through the financial services sector.