- August 29, 2018
- PSD2
- Open Banking, PSD2
The art of Open Banking regulation
Europe made the first steps toward open banking with open banking regulations in the UK and PSD2 for the European Union. As a first mover, the EU introduced PSD2 to increase competition in a payments sector dominated by a few big payment service providers and credit card schemes. Taking Europe as a blueprint, other jurisdictions are now using open banking as an accelerator to meet their own specific goals.