PSD2 And GDPR: Customer Consent Tops Regulators’ Agenda | PaymentsCompliance

Two major UK regulators have instructed firms preparing for open banking to make consumer consent their top priority — particularly once EU-wide data protection reforms take effect next month. Under the revised Payment Services Directive (PSD2), banks cannot deny account access to newly regulated third-party providers as long as they have obtained the consent of the end user.

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