Compliance and Competitiveness
Why open banking may be the solution for banks
Payment initiation service providers (PISP) intiate payments between the payee’s and payer’s accounts and account information service providers (AISPs) aggregate information between customers’ payment accounts.
As the European Union tries to respond to an ever-evolving payment landscape in Europe through the Revised Payment Services Directive (PSD2), banks are facing important challenges while trying to be compliant. The legislation created a panoply of opportunities, but also challenges, from a strategic, organizational, and technological perspective. As banks try to navigate this maze, they will need to reconsider their operating models and how open banking may be the next logical step.
Inside Magazine EMEA Technology, November 2017
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
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