Data sensitivity further complicates PSD2 @Euromoney

Data sensitivity further complicates PSD2 @Euromoney

Implementing Payment Services Directive II is already causing headaches for plenty of European banks, even before they face up to the potential impacts of data privacy and messaging standards. The arrival of PSD2 in 2018 will open up transaction processing to third-party payment service providers (TPP), and has been well documented as a potential threat to the banks’ dominance in the space. James Buckley, head of Europe at Finacle – a universal banking application developed by Infosys – says the banks’ only option now is to collaborate more closely with their prospective third-party rivals.

Sourced through Scoop.it from: www.euromoney.com

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