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PSD2: Are you ready for the digital payments revolution?
2018 is set to be a pivotal year for the financial services industry with both the General Data Protection Regulation (GDPR) and the revised Payments Services Directive (PSD2) due to become law, transforming the way that businesses approach their customers’ data. While GDPR looks to ringfence consumer privacy, PSD2 conversely looks to unleash the banking [...]
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UK’s Open Banking project expanded
The Open Banking Implementation Entity (OBIE), the body set up by the Competition & Markets Authority (CMA) to enable a new, secure way for customers to take control of their financial data and share it with organisations other than their banks, has announced a series of important enhancements to its original scope as set out [...]
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The shifting sands of banking: Highlights from Mobey Day 2017
We are approaching the most critical juncture in the history of modern banking. The impact of regulation, in concert with the increasing deployment of transformative technologies, is permanently altering the way banks operate and do business. Banks as ‘connectors’ imaginBank’s David Arranz used his keynote address to set the tone, leaving delegates in no doubt [...]
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PSD2 and Europe’s Open Banking Mandate – a PCM report
In a new report, PSD2 and Europe’s Open Banking Mandate, we aim to analyse the implications of the revised Payment Services Directive, PSD2, for the European banking industry and Open Banking challenges both for banks and FinTechs. The adoption of the revised Payment Services Directive (PSD2) is formalising the relationship between Banks and FinTechs by establishing [...]
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National payment systems in the open era
The basic movement of money from A to B is changing. It’s becoming faster, embedded and more open ecosystem driven. Whereas payments used to be cleared and settled in days, now funds are available to the beneficiary within seconds. Whereas banking and payment products used to be offered exclusively by banks, now new players are [...]
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