PSD2: Who wins? » Banking Technology

In an API-based economy where the value chain is inverted, banks could be confined to “dumb pipes”, or worse, as consumers migrate to service-centric challenger banks replete with friction-free on boarding and enriched data analytics. Therefore the new fintech players win? Not so fast. There’s so much else going on that the same group of bank executives have to think about and solve for. But few things gain senior level attention, or funding, faster than a compliance deadline. Fintech companies should be concerned that the advent of PSD2 finally triggers the incumbents to genuinely change their approaches.

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