Vocabulary

1.New European payments regulation has the potential to shake up the banks

shake up:to make changes in the way that a company is organized so that it is more effective or successful彻底调整，重组，改革（组织，机构，行业）

Eg:A new managing director was brought in to shake up the company.

2.Klarna：is a Swedishe-commercecompany that provides payment services for online storefronts. Their core service is to assume stores' claims for payments and handle customer payments, thus eliminating the risk for seller and buyer.

Link:https://en.wikipedia.org/wiki/Klarna

3.mortgage：noun(alsoinformalˌhome ˈloan)a legal agreement by which a bank or similar organization lends you money to buy a house, etc, and you pay the money back over a particular number of years; the sum of money that you borrow按揭（由银行等提供房产抵押借款）；按揭贷款

Eg：to apply for/take out/pay off a mortgage申请╱取得╱还清抵押贷款

4.predetermined：happening or developing in a particular way because of things that have existed, happened, or been decided before预定的，预先确定的，预先决定的

Eg：The department has exceeded its predetermined level of spending.

5.overdrawn：having taken more money out of your bank account than you have in it已透支；有透支

Eg：I'm overdrawn by £100.我透支了 100 英镑。

6.nudge：to push sb/sth gently or gradually in a particular direction（朝某方向）轻推，渐渐推动

Eg：He nudged the ball past the goalie and into the net.他轻松地将球推过守门员，送入网中。

7.dire：very serious极其严重的；危急的

Eg：living in dire poverty生活赤贫◆dire warnings/threats严重的警告╱威胁◆Such action may havedire consequences.这种行为可能产生严重后果。

8.unscathed：未受伤的；未受损害的 If you areunscathedafter a dangerous experience, you have not been injured or harmed by it.【搭配模式】：ADJ after v

Eg：Tony emergedunscathedapart from a severely bruised finger...托尼除了一根手指严重淤青外没有受到其他伤害。

9..Fintech companies are beginning tomounta challenge, most conspicuously in the online-payments industry in northern Europe...

mount: [动词 + 名词短语] to organize and begin sth 准备；安排；组织开展 【 synonyms 】:arrangeE.g. to mount a protest/campaign/an exhibition 发起抗议 / 运动；举办展览

conspicuous: easy to see or notice; likely to attract attention 易见的；明显的；惹人注意的 【派生词】conspicuously显著地 E.g. Women were conspicuously absent from the planning committee 引人注意的是，规划委员会里没有一个女性委员

10.sofort: online bank transfer . https://www.sofort.com/eng-INT/buyer/sb/overview/

iDEAL:  Online payments service https://www.ideal.nl/en/

11.overwhelming:very great or very strong; so powerful that you cannot resist it or decide how to react巨大的；压倒性的；无法抗拒的

Eg:The evidence against him was overwhelming.对他不利的证据确凿，无法抵赖。

12.resilient:able to feel better quickly after sth unpleasant such as shock, injury, etc.可迅速恢复的；有适应力的

Eg:He'll get over —young people are amazingly resilient.他会克服的，年轻人的适应力惊人。

13.incumbent：a person who has an official position在职者；现任者

Eg：thepresent incumbentof the White House现任美国总统

14.PSD2：（Payments services directive2): PSD2 is the second Payment Services Directive, designed by the countries of the European Union. It could revolutionise the payments industry, affecting everything from the way we pay online, to what information we see when making a payment. (Related links: https://transferwise.com/gb/blog/what-is-psd2)， adopted in 2015

【延伸】来看看PSD2的前身：PSD：is anEU Directive, administered by theEuropean Commission (Directorate General Internal Market)to regulate payment services andpayment service providersthroughout theEuropean Union(EU) andEuropean Economic Area(EEA). The Directive's purpose was to increase pan-European competition and participation in the payments industry also from non-banks, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations for payment providers and users. （Only be applied within the European Economic Area)

https://en.wikipedia.org/wiki/Payment_Services_Directive

15.kick-start：使快速重新启动;使…重新开始Tokick-starta process that has stopped working or progressing is to take a course of action that will quickly start it going again.

Eg：•The President has chosen tokick-startthe economy by slashing interest rates.总统选择通过大幅降低利率来重新拉动经济增长。

16.explicit：of a statement or piece of writing陈述或文章)clear and easy to understand清楚明白的；易于理解的

Eg：He gave me very very explicit directions on how to get there.他清楚地向我说明了去那儿的路线。

17.They could become more integrated into the internet-browsing experience— enabling,

Integrate into：to combine two or more things so that they work together; to combine with sth else in this way（使）合并，成为一体

Eg：These programs will integrate with your existing software.这些程序会和你原有的软件整合起来。                                                                                                

18.wave through：to give permission or approval for something immediately and often without checking or considering it properly

Eg：Most  countries have waved the legislation through.

19.sophisticated：of a machine, system, etc.机器、体系等)clever and complicated in the way that it works or is presented复杂巧妙的；先进的；精密的

Eg：highly sophisticated computer systems十分先进的计算机系统

20.Profitability is already threatened by rock-bottom interest rates

rock-bottom：最低点;最低水平;低谷If something has reachedrock bottom, it is at such a low level that it cannot go any lower.

Eg：Morale in the armed forces was atrock bottom...军队的士气极度低迷。

21..Banks'lockholdon payments serves as a handy source of income, earning European banks €128bn in 2015, around a quarter of retail banking revenue. 牢牢把控

22.Many see PSD2 as a threat to their business models; they fear becoming the “dumb pipes” of the financial system.

dumb-pipe：dumb pipes:refers to a network that is used simply to transfer bytes between the customer's device and the Internet, while being completely neutral with regard to the services and applications the customer accesses, it primarily provides simple bandwidth and network speed.(相对于smart pipe ). 术语哑通道是指简单地用于在客户设备和因特网之间传输字节的网络，而完全中立于客户的访问和应用程序，它主要提供简单的宽带和网络速度。

23.Perhaps predictably, resistance ismanifestedas a concern about data protection: more then half of respondents to the PWC survey voiced concerns about security andliability.

manifest: to show sth clearly, especially a feeling, an attitude or a quality 表明，清楚显示（尤指情感、态度或品质）【synonyms】demonstrate. Eg.Social tensions were manifested in the recent political crisis.最近的政治危机显示了社会关系的紧张

liability:累赘；负累；负担 If you say that someone or something is a liability, you mean that they cause a lot of problems or embarrassment.

24.legitimate:for which there is a fair and acceptable reason 正当合理的；合情合理的 【Synonyms】valid, justifiableE.g.It seemed a perfectly legitimate question 这似乎是完全合乎情理的问题。

25.robust:强健的;健壮的;坚固的;结实的 Someone or something that is robust is very strong or healthy.E.g. We've always specialised in making very robust, simply designed machinery. 我们一直专注于制造极为结实耐用而且设计简单的机器

26.water down：使(提议、演讲、声明等)语气缓和;使打折扣;削弱If something such as a proposal, speech, or statementis watered down, it is made much weaker and less forceful, or less likely to make people angry.

Eg：Proposed legislation affecting bird-keepers has been watered down.影响养鸟者的立法提案的措词已经缓和一些了。

27.But regulators have already bared their teeth: last year German competition authorities, citing the changes proposed in PSD2, ruled that banks were illegally restricting customers’ online-banking activities.

bare their teeth：to show your teeth in an aggressive and threatening way（凶狠地）龇牙咧嘴

Eg：The dog bared its teeth and growled.那条狗龇牙咧嘴地低吼。

28.invoice：a list of goods that have been sold, work that has been done etc, showing what you must pay发票；（发货或服务）费用清单

29..Familiarity,huge customer bases and low funding costs are allattributes entrantswant to gain by association, just as banks want toexploitnewcomers' technology. 熟识，庞大的客户群和低资金成本上是新来者通过联合想获得的所有属性，就像银行想利用新来者的技术一样。

attributes: noun. a quality or feature of sb/sth 属性；性质；特征 E.g Patience is one of the most important attributes in a teacher.耐心是教师最重要的品质之一 

entrants: a person who has recently joined a profession, university, etc. 新职员；新生；新会员；新成员

exploit:to treat a person or situation as an opportunity to gain an advantage for yourself 利用（…为自己谋利）E.g. He exploited his father's name to get himself a job.他利用他父亲的名声为自己找到一份工作

30.confrontation:~ (with sb) | ~ (between A and B) a situation in which there is an angry disagreement between people or groups who have different opinions 对抗；对峙；冲突E.g. confrontation between employers and unions 资方与工会之间的对峙

MindMap（笃师参考）

神句神词组（笃师讲解）

1.New European payments regulation has the potential toshake up the banks.

新的欧洲支付条例很有可能要彻底重组银行的架构。

【新出台的欧洲支付法规有可能会给银行业带来巨大冲击。

Shake up 一般指带来重大改变,Gambition is shaking up the way we study/Technology

is shaking up every industry that we can conceive of.】

2.European rules willopen the door to a host of innovative servicesthat analyze transactions. 欧洲法规将为分析交易相关的创新服务敞开大门。

【欧洲法规将给交易分析相关的创新服务带来更多机遇。

to give someone new opportunities (sometimes + for )The success of that film

opened new doors for him.(sometimes + to )Early results show that thenew system would open doors to disadvantaged people.】

3.Customers need barely ever interact with their bank. 客户几乎不再需要与他们的银行打交道。

【客户几乎都不需要通过银行。

如果这边一定把interact翻成与银行互动,就略显死板了。大家都习惯了互联网金融，那很多事情就不需要通过银行啦~】

4.European retail banking has beenremarkably unscathed by technology-driven disruption.

欧洲零售银行明显在技术驱动干扰活动中毫发无损。

【技术带来的变革对欧洲零售银行业产生的影响微乎其微。

欧洲零售银行业几乎并没有受到技术变革的影响。

两句一个意思，第二句形式上更吻合原句，但第一句通过化被动为主动，突出了核心信息remarkably unscathed几乎毫发无伤。所以，翻译并没有完美的答案，只能无限接近而已~】

5.Fintech companies are beginning tomount a challenge, mostconspicuouslyin the online-payments industry in northern Europe. But theirreach is more limitedelsewhere in Europe.。 金融科技公司们正开始发起一场挑战，主要致力于欧洲北方的线上支付这块产业。但他们在欧洲其他地区很难发挥影响力。【互联网金融公司已经开始发起挑战，尤其是在北欧线上支付领域。但对欧洲其他地区的影响则要小得多。我要提醒大家的是最后那里的reach,用作名词时候和influence一个意思,用来表达影响的范围，简短好用，建议化作积极储备。Eg.Victory is now out of her reach. /The company has now overtaken IBM in terms ofsize and reach./Such matters are beyond the reach of the law.】

6.Regulators,however, are about totransform the landscape. 然而，监管者们正要改变这种局面。【然而，监管部门即将改变这一现状。

landscape原意是风景，景色，地貌，此处也是暗喻的用法，衍生为局面，局势。所以哦，衍生意思和原意都有一定联系，大家稍加联想，便不难理解哦。这种用法非常非常普遍，建议内化。Recent electoral shocks have shaken the

European political landscape.最近的选举风波震动了欧洲政坛。】

7.Banks’ lockhold on payments serves as ahandy sourceof income.银行业紧紧控住付款服务这一最方便的收入来源。【牢牢把控支付领域使得银行轻而易举就能赚钱。后面的handy这一形容词值得重视，表示就在手边，方便容易，唾手可得，联想它的原形hand好好体会一下。Eg. Always keep a first-aid kit handy.跟前要常备急救箱/handy little tool好用小工具】

8.Resistance ismanifestedas a concern about data protection.Suchconcerns are legitimatebut also, argue fintech supporters,offer a convenient excuse forbanks toblock competition.阻力主要表现为对数据保护的担忧。这种担忧是合法的却也为银行阻碍竞争提供了一个合适托辞，金融科技支持者辩论道。【抗拒源自对数据保护的担忧，这是合情合理的。但互联网金融的支持者们认为，这也是银行抵制竞争的绝佳借口。】

9.Yet for all their complaints, customers still trust banks with their money. 尽管抱怨连天，客户在资金上还是相信银行。【For all表示尽管，虽然，等于despite.Eg. For all its clarity of style, the book isnot easy to read】

神词组:【笃师讲解】

become overdrawn: 变得透支【透支】

nudge them to save more 促使他们节约些【鼓励他们增加储蓄】

have easy access to:容易进入【便于……】

kick-start competition:推动竞争【引发竞争】

give explicit consent 给予明确准许【明确同意】

one-click bank transfer:一键银行转帐

low-value payments:小额度的付款【小额支付】

tighten up security:加强安全

guide them toward:引导他们走向

rich data:庞大数据【丰富的数据】

leave them in a weaker position: 陷他们于劣势位置【使他们处于不利地位】

robust data-protection system: 稳固数据保护系统【强大的数据保护系统】

insured against losses from fraud:投保欺诈损失【投保以防欺诈造成的损失】

perfect on paper: 完美计划【理论完美！暗示实际操作起来可能困难重重。】

team up with:联手合作【与….合作】

exploit newcomers technology:利用新参与者的技术【利用后来者的技术】