Welcome to our roundup of the best news and opinion on PSD2 from the last week.
What’s your bank’s identity API strategy? ITProPortal
PSD2 will require banks to open up their APIs, meaning a comprehensive strategy for doing so is essential. A key focus of this should be the positioning of the bank as a trusted provider – particularly in terms of security, one of their traditional key strengths.
The UK’s Open Banking project is being expanded beyond its original 2016 remit to include credit cards, e-wallets and prepaid cards. The decision by the Competition and Markets Authority (CMA) and the UK Treasury defines this as expansion as taking place over the 2 years immediately following when PSD2 first comes into force in January.
A look at the impact of open banking on customers, along with a concise summary of the implications for banks. In short – the outlook is positive for both parties, but banks will need to ‘lean in’ to make the most of it.