The Payment Service Directive 2 (PSD2) extends the framework of the original directive with the explicit aims of promoting competition in payments. The directive recognises the increasing digitalisation of the financial sector, as well as the emergence of new market participants and service providers. Innovative services, especially for mobile and online payments business, are to be promoted. Equally important is the creation of a defined legal framework for providing account information and payment initiation services, including regulation of third party payment services providers. This creates the legal basis for FinTechs and other market players to deliver innovative solutions and compete with the banks for client payment services.
Key topics within PSD2 are innovation, security and consumer protection:
We have ready solutions available which ensure that banks can meet the requirements resulting from PSD2. At the heart of this is the MultiCash Communication Platform which is designed as an omni-channel platform with fully integrated multibanking functionality.
In this way, the new interface forms an integral part of our omni-channel strategy, allowing services to be offered across all channels and client segments.
Detailed information on PSD2 can be found in our White Paper, which describes the effects of the new regulations on the banking world and summarizes potential technological solutions. In addition, the White Paper outlines the strategic opportunities for the banks to exploit the business potential from the changes.
For Bank staff only : To receive your personal copy of the White Paper, please use the contact form.