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Changes through the PSD2 Directive
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Payment Services Directive II (PSD2) arrived in Europe on 13 January 2018, after two years of planning. The idea behind EU having this regulation is to open access to services and data to third-party service providers, a privilege which was initially limited to banks only. Banks will permit financial service providers to access their clients’ accounts via an Application Program Interface (APIs). 

 

What is the Effect of PSD2 on Banks and Customers?

With non-bank payments service providers expected to have access to bank APIs, the customers are undoubtedly the biggest...

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Analysis
Key messages for avoiding another financial crisis like 2007
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Experts say that, although the last financial crisis ended in June 2009, the economy is still recovering and many pundits fear that the world could be facing a double-dip recession. So, what lessons can we learn from the big crash of 10 years ago? Financial regulation may have increased but have the core issues been addressed?
 

What lessons can be learned?

When levels of debt increased and loans and credit were being handed out like sweets, house prices suddenly started going into reverse. This has been a recurring pattern during past financial crises through history and one that...

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Analysis
Banks and Fintechs - A Necessary Match
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By using innovative digital platforms to provide fast and accessible financial services, Fintechs have provided a challenge to the established financial institutions. Consumers increasingly expect to be able to manage their finances wherever they are. Although the main players in the financial world have recognised this demand, old legacy IT systems and entrenched business practices place them at a disadvantage in an area that develops rapidly. Fintechs provide services such as loan approvals within minutes and cheaper international money movements, core banking procedures.

 

Consumer...

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News
Impact of PSD2 regulations on banks, regulators and FinTechs
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The proposed Payment Services Directive II (PSD2) set by the European Commission in 2013, is expected to be implemented by all member states into law by January 13, 2018. Its main objective is to ensure enhanced consumer protection, safe payments and encourage innovation. However, some see these new regulations as obstacles against providing innovative solutions for banking.

 

What are PSD2 regulations?

These are the new European Union banking regulations which will govern the protection and sharing of data across Europe. The regulations will give non-banking third parties such as...

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