After the appearance of the Internet, the introduction of PSD2 seems to have an effect of the strongest earthquake in terms of making payments and the way we bank. In short, under PSD2 banks have to open up access to accounts and customer data to third parties. However, nothing can happen without the explicit consent of customers and with the high level of security and consumer protection provided at all times.
Balancing between “disrupt or be disrupted” has been a tough task for everyone – banks, vendors, fintechs, techfins, and other players. Nevertheless, there are many advantages introduced by PSD2 and open APIs, along with the rise of open banking.
Find out in the video below how to reach benefits from PSD2!
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