Preparing for PSD2 & Open Banking: Forthcoming regulation and technology pose serious challenges for banks
- Pages: 20
- Published: June 2016
- Report Code: ML00022-028
The EU’s Directive on Payment Services 2 (PSD2) will accelerate the fragmentation of Europe’s retail banking industry following the global financial crisis. The opportunities brought about by PSD2 will energize those banks with strong brand awareness and advanced digital offerings into pushing the boundaries of open banking. Increased competition from card issuers and non-bank third-party providers will prompt the steady mid-cap players to fundamentally evaluate their strategies. Banks that are competing on price may see a future in collaborating with third parties, but in doing so will relinquish control over their customer relationships. Whichever path is chosen, the opportunity to offer, create, or co-create new products and services much more quickly is a positive change for the industry.
Scope
Understand the impact of PSD2 on retail banking.
Identify strengths, weaknesses, opportunities, and threats posed by PSD2 and open banking.
Action key tactical steps to ensure compliance with PSD2 regulation.
Envisage how banks can provide value-added products and services in an open banking environment.
Reasons to buy
What is PSD2?How will it usher in a new buyer-driven payment model & increase competition?
How do banks need to react to changing legislation?
Companies mentioned
None
Table of Contents
List of Tables
List of Figures
Pricing
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