Welcome to our roundup of the best news and opinion on PSD2 from the last week.
Having small, agile ‘startup style’ teams will be crucial for dealing with the issues raised by PSD2 – they’ll need to be empowered to make decisions themselves, rather than deferring to a larger corporate management structure. These could take the form of skunkworks.
A cultural shake up in major banks is key to their adapting to open banking – it starts with an open mindset and a willingness to embrace solutions such as community based open source technology.
Open Banking Will Revolutionize Financial Services … Maybe – Financial Brand
Will open banking be a revolution that leaves traditional banks standing and startups surging, or will it be a damp squib? The truth could lie in the middle. ‘Open banking’ could become ‘marketplace banking’ – where banks act provide a toolkit for the creation of a variety of third party financial services, as well as acting as the conduit between these services and customers.