How UK banks can learn from their US counterparts on PSD2

Banking executives are gathering at a Congress in London today (28 March) to discuss the challenges of PSD2 implementation.

Early signs point to a battle between financial services institutions and technology firms over the new legislation’s customer data access requirements. The financial institutions affected by the new regulations face two challenges. First, they must build agility into their core systems to support the open APIs mandated by PSD2. In addition, complying with PSD2 will require a higher level of innovation at the consumer-facing end of their businesses in order to retain customer loyalty.

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