Open Banking & PSD2 – Dedalo – Epiphany

PSD2 CHANGING THE LANDSCAPE With the adoption of the Second Payment Service Directive, (PSD2), the European Parliament mandated a revolution in the European payment industry. The overall goal is to encourage innovation and new partnerships between fintechs and banks by requiring banks to open up their client’s personal information to third party providers for the purposes of payment initiation and/or account information. PSD2 implementation is governed via the European Banking Authorities Regulatory Technical Standards (RTS) that sets new security standards, and compels banks to begin implementing a standardized open API system.

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