PSD2 in 90 seconds Monday 30th October

PSD2 in 90 seconds Monday 30th October

By October 30, 2017 PSD2, Research No Comments

Welcome to our roundup of the best news and opinion on PSD2 from the last week.

Banks are preparing for PSD2 but few are ready for new era of open banking – The Financial

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.

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