Company: BCDRF
Filing Date: 2025-03-03
Form Type: 6-K
Source: 0000891478-25-000057
Chunk: 20

Company: Banco Santander, S.A.
Filing Date: 2025-03-03
Form: 6-K
Chunk 20
---
 the euro as currency must provide the instant transfer receipt service from 9 January 2025 and the transfer sending service from 9 October 2025. Service providers that are located in a Member State not using the euro must provide the instant transfer receipt service from 9th January 2027 and the transfer sending service from 9 July 2027. An addition to the main amendments introduced by the regulation is the obligation to provide the payer, free of charge, as of 9th October 2025, with the service of verifying the IBAN of the beneficiary's account and the name of the beneficiary given by the payer is correct or shows any discrepancies.

#### Data
The payment services have changed considerably over the last few years due to the increase in electronic payments in the European Union and the entry of new providers in the

2024 Pillar 3 Disclosures Report 19

| Index |     | Introduction |     | Capital |     | Risks |     | Risk taker's remunerations |     | Appendices |

market. Thanks to digital technologies, but also to the paradigm shift, a data economy in increasingly digital environments has been promoted. New regulations have been developed to address these advances. In June 2023, the European Commission published a legislative proposal introducing a new regulation on the creation of a framework for Financial Data Access (FiDA). This framework aims to establish rules on accessing, sharing, regulating and using particular categories of customer data in the financial sector, to define rules for the authorisation and operation of financial information suppliers and to determine the rights and obligations of users, data subjects and also financial information service providers. Its scope of application will be all the categories of data covered by the regulation and the types of institutions when they act as data managers or users. This proposal, which will continue to be negotiated by European co-legislators, will serve as a specific, standardised framework for Union-wide access to financial data, establishing regulations on the access, exchange and use of certain categories of customers' data in financial services, among other such matters.

Another significant development regarding data is the Data Act, which is a regulation designed to improve the EU data economy and boost a competitive data market by making data (especially industrial data) more accessible and usable, encouraging data-driven innovation and increasing data availability. This regulation gives users of connected products (companies or persons who own, lease or rent a product of this type) greater control over the data they generate, while maintaining incentives for those who invest in data technologies. This