PSD2: A turning point for banks’ business models

January 13th was the final deadline for financial services companies to comply to the FCA’s newest European legislation, the Payment Services Directive (PSD2). The run up has been a time of huge introspection and preparation for European banks, that are only too aware of what the new rules are striving to achieve. Forcing change in the industry, it’s been a catalyst for traditional banks to urgently assess their business models and marks the start of a new journey as they seek to define the future role they will have in the industry, and in their customers’ lives.

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