As the deadlines for new banking regulations approach, large UK banks will have to shake off the weight of tradition and seize the opportunity to become truly digital companies. The revised Payment Services Directive (PSD2) means banks can no longer rely on customer data as a key source of competitive advantage. They must diversify the services they offer in order to stay at the top of the financial food chain. This need is not driven solely by regulatory requirements, but also by changing consumer expectations for how they wish to access and consume services in a digital world.
Sourced through Scoop.it from: www.ibtimes.co.uk