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“The Brexit unrest aside, Europe is taking initiatives to make a sounder, more user-friendly economic landscape. By using technology solutions and digital innovation, the European Union (EU) is encouraging greater transparency, usability and higher standards of security for all manner of web-based banking and financial transactions.
Irrespective of any governmental re-organisation, and the trickled-down impact to markets, some of the EU’s advancements will lead to improvements in how organisations and society work, and it’s encouraging.
The Revised Directive on Payment Services (PSD2) is a perfect example of how the EU is encouraging a pairing of technology innovation with market opportunity, with the goal of opening up more financial institutions to be able to interoperate, share data and make users’ lives easier. It is a sensible directive that will change how the world conducts business, and it is creating opportunities for technology companies that provide the connective tissues among applications, data repositories, and other sources of information.”
Sourced through Scoop.it from: www.bankingtech.com