Payment Services Directive II (PSD2): New Fintech and Payments Regulation Set To Revolutionize Banking
OVERVIEW The revised Directive on Payment Services (PSD2) is set to open up banking in Europe. It regulates providing standardized access to banks’ customer data and banking infrastructure, thus lowering entry barriers for third party providers and new FinTech companies. It is widely believed that this will provide the impetus for new business models, and…