Financial institutions in Europe are preparing to confront a major legislation revision for the banking industry: the proposal for a revised directive on payment services in the internal market, better known as Payment Services Directive, or PSD2.
PSD2 represents one of the single biggest changes in banking industry history, because it’s the first time banks will be obligated by law to open their infrastructures to third parties. Many banks are concerned about this legislation, feeling exposed and under attack from new entrants. It also enables customers to be in the driving seat when it comes to their finances. Yet, does it need to be a huge threat?
In this special, exclusive webinar, Jouk Pleiter and Jelmer de Jong of Backbase talk about what PSD2 means for the banking industry, and how can banks can prepare for this inevitable change. We are looking at:
What PSD2 actually is
PSD2 and the connection with APIs
PSD2’s impact on banks
New entrants in the banking space
The bank’s fundamental strategic choice: the defensive or offensive strategy
Opportunities to capitalise on.