The impact of PSD2 extends beyond compliance. The coming into force of this new regulation will bring further disruption to the banking market.
Compelled by the Access to Accounts (XS2A) rule which stipulates that banks must provide access to their customers’ data to third-party payment providers, traditional banks will lose part of their revenue. It is critical for banks to gain a competitive edge by leveraging PSD2 to establish themselves as the payment provider of choice in their markets.
Traditional banks should embrace the Bank-as-a-Service model, supported by an open-API strategy, to foster application and service innovation.
As the sector specialist for delivering IT solutions to retail banks, GFT can help you turn disruption to your advantage. We will support you with the definition and development of an open-API platform that meets the mandatory requirements for PSD2, offering you a wide variety of options to help you use this platform to develop new services.