The introduction of Payment Services (PSD2) from 19 February 2019 will lead to major changes for European banks and payment operators. PSD2 lays the groundwork for open banking, in which third parties are granted access to banks' customer details and infrastructure.
PSD2 will lower the barriers to entry for third-party providers such as FinTechs, and will encourage the development of new business models. For financial organisations within the EU, this means that substantial changes must be implemented.
This is why PwC has a European PSD2 team. This multidisciplinary team of leading experts can help you assess the consequences of PSD2, to design the best solutions and to implement them efficiently and effectively. We want to help our customers analyse the challenges, and to identify the opportunities offered by PSD2.
PSD2 leads to a number of challenges in the strategic, technological, operational and legal fields. Important questions to ask:
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