Financial institutions across Europe will soon be introduced to new banking industry regulations – a proposal for a revised directive on payment services in the internal market, better known as Payment Services Directive (PSD2).
The PSD2 regulation is regarded by many as the single biggest change in the banking industry, as it will force banks to open their infrastructure to third parties. Many banks are concerned about this legislation, feeling exposed and under attack from new entrants, and positions customers in the driving seat.
But is PSD2 a threat to banks, or an opportunity?
This report highlights how a bank should prepare for PSD2, and how it can transform this banking industry regulation into an opportunity to become a leader in creating an open banking platform.
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