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Open Banking presents challenges for banks and FinTechs
The adoption of the revised payment services directive (PSD2) in Europe is changing the relationship between banks and FinTechs, specifically around open access to customer account data and the payments infrastructure, dubbed Open Banking. In turn, this is expected to stimulate the development of new integrated service models for consumer and business customers. So far, [...]
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Payments Buzzwords 2018: Authentication, Identity and Chinese BigTech
Authentication tipping point – will PSD2 change we way we pay? Talking about 2018 is hardly possible without mentioning PSD2. So here it is, on top of my list. On January 13 PSD2 will go live. However, some aspects of the new regulation will not be enforced until around 18 months later, when the Regulatory [...]
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Five key themes that will transform banking in 2018
NCR recently surveyed over 1,000 UK adults, aged 16 and above, to gather their thoughts on the future of banking. Some of the findings are pivotal in understanding how banking will change in the UK in 2018 – with trends like AI, PSD2 and consumer trust shaping the transformation. 1. Banking will transform to take [...]
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Five trends for payments in 2018
This past year has seen a number of significant changes in the payments industry. From new transfer methods to the PSD2 push, the demand for faster, smarter, and safer transactions has reached fever pitch. 2017 seems almost as though it was a primer, setting the stage for the game-changing payments progress promised in the coming [...]
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Retailers to benefit as banks open networks in compliance with new payments regulations
Retail companies could become the new face of everyday financial transactions once the Revised Payments Services Directive, known as PSD2, goes into effect in the European Union in January. PSD2 requires banks to grant third-party providers – such as retail merchants – access to a consumer’s online account/payment services in a regulated and secure way, [...]
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