PSD2: Are you ready for the digital payments revolution? | Finance Digest Magazine

Ian Clark ,Vice President, API Management, CA Technologies – 2018 is set to be a pivotal year for the financial services industry with both the General Data Protection Regulation (GDPR) and the revised Payments Services Directive (PSD2) due to become law, transforming the way that businesses approach their customers’ data. While GDPR looks to ringfence consumer privacy, PSD2 conversely looks to unleash the banking and payments sector, allowing third-party access to customer data. The combination is a potent legislative cocktail that will challenge banks and fintech companies as the European Union (EU) looks to actively enforce data protection rules while fostering a more open and competitive financial marketplace.

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