Welcome to our roundup of the best news and opinion on PSD2 from the last week.
Actions are not matching up to ambition for many banks – only 9% of banks surveyed by PwC have begun implementing compliance for PSD2, but a full 50% of them aspire to be platform banks.
Fergal Coburn from AIB speaks to us about PSD2 – Fintech Finance
AIB’s Fergal Coburn asserts that a key concern for banks post-PSD2 will be preserving customers’ trust in them, in part by prioritising data protection over data monetisation.
European Banks Forced to Open the (Data) Vault – Bloomberg Businessweek
PSD2 is an opportunity for traditional lenders, not a threat – but that isn’t stopping many from seeking workarounds in order that they don’t need to offer full API access to third parties.
PSD2 information still scarce as deadline nears – Euromoney
Consumer education regarding PSD2 will be key – there is the potential for customer concern regarding the sharing of data with third parties, and the benefits must be clearly communicated to tackle this.