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Deloitte European PSD2 Surveys
Latest insights into how banks and customers embrace open banking
The revised Payment Services Directive (PSD2) is a key regulatory initiative of the European Union that aims to facilitate innovation and competition in the financial services market by creating a level playing field for banks, emerging FinTechs and other third parties. In this way, it is designed to improve and broaden the spectrum of online financial services currently available to customers.
Explore Content
- European PSD2 Voice of the Banks survey & CEE PSD2 Voice of the Customer survey
- Key findings from PSD2 VoB and VoC surveys delivering one comprehensive picture
- Survey methodologies
- Get in touch
European PSD2 Voice of the Banks survey & CEE PSD2 Voice of the Customer survey
With the go-live of PSD2 firmly set for 13 January 2018 in most EU countries, we were keen to provide our clients and wider public with tangible insights into how the banking community has been preparing for the new “open banking” era, and how banking customers may be willing to share their bank account data with other banks and third-party providers such as FinTechs in exchange for new innovative services.
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Is the market going to be disrupted by new players as it has been frequently predicted? Are traditional banks really endangered? |
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Shall we expect a revolution or rather an evolution where it will be key for each bank to find its future role in the emerging open banking ecosystem? |
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Are customers ready for the change and aware of how they could benefit from sharing their data? |
In order to provide answers to these and many other related questions, Deloitte conducted two independent surveys:
- European PSD2 Voice of the Banks (VoB) survey conducted among 90 EU banks based in 17 European countries looking at their attitude towards PSD2 with special focus on the Central and Eastern European region
- CEE PSD2 Voice of the Customer (VoC) survey conducted among 6,000 banking customers from Central and Eastern European countries analysing their digital banking preferences and readiness to adopt new innovative PSD2-enabled services.
Key findings from PSD2 VoB and VoC surveys delivering one comprehensive picture
CEE banks tend to be less aggressive in their PSD2 strategies than their Western European peers |
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Biggest impact to be expected in retail banking, payments and consumer lending, many banks are considering alliances with FinTechs |
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Most banks regard PSD2 as an opportunity but remain aware of the threats it poses to their business models |
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WE banks are generally more advanced in PSD2 implementation, CEE countries show a multi-speed pattern |
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Are customers ready? CEE banking customers’ use of digital banking channels reveals significant regional differences |
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Almost a fifth of CEE banking customers represent branch or internet hostages – clear opportunity for PSD2 digital challengers |
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PSD2 challengers will need to build trust and awareness among customers in order to leverage market opportunities |
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No PSD2 “big-bang” effect is to be expected – biggest market impact likely only after one to three years |
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Multiple challenges still lie on the road ahead |
For more information and insights, download the complete Deloitte PSD2 surveys:
- European PSD2 Voice of the Banks Survey (PDF, 5.3 MB)
- CEE PSD2 Voice of the Customer Survey (PDF, 0.5 MB)
To discuss more details and PSD2 impact on your financial institution, please get in touch with us.
Survey methodologies
European PSD2 Voice of the Banks: Deloitte surveyed 24 Western European and 66 Central and Eastern European banks using detailed online survey and personal interviews about their approach to PSD2 and how they plan to respond to the challenges it represents – from both a compliance and strategic perspective.
CEE PSD2 Voice of the Customer: Deloitte conducted a detailed online research on a sample of 1,000 banking customers per CEE country (Bulgaria, the Czech Republic, Hungary, Poland, Romania and Slovakia) to better understand how banking channel preferences and data privacy concerns may impact PSD2 use cases developed by banking institutions and other challengers.