Become PSD2-compliant faster than others.

The update of the previous EU PSD Directive opens banking institutions even more for cooperation with external service providers (including other banks) and the wide fintech ecosystem. From January 2018, PSD2 Directive gives the right to entities other than banks to enter the role of payment operators or to manage information on customer accounts. At the same time PSD2 Directive regulates the security and authentication aspects of the client in the payment process.

The entry of open banking is a real revolution when it comes to banks infrastructure. They must provide data from their systems through open APIs. External entities (TPP) will connect to this data securely, creating new business values and innovative services or products.

What else is the PSD2 Directive changing? Probably, it will soon eliminate the passwords and text messages codes used to confirm payment transactions. The Directive will move standard towards much safer biometric solutions. PSD2 Directive will be also a great opportunity for many start-ups, technology companies with a financial profile and not only – using open banking data, these entities will be able to make a complete transformation of the market –  European and global.