Axway: Complying to PSD2 and other open banking regulations or leverage compliance to create new business opportunities?
The revision of the Payment Services Directive (PSD) has been approved early January 2016. And while the discussions on the PSD2 started on Payment, specifically on Payment Initiation, the access to account (XS2A) is actually the great step forward so innovation can expand beyond payment.
It’s also very interesting to note that while a lot of questions remain unanswered on what data will be accessible, how and against which authentication and authorisation strategies, some new regulations are already going one step beyond, e.g. the Competition and Market Authority in the UK is requesting banks to provide access to bank accounts through open APIs: at least the sharing method starts to be set!
In Digital business we know that we have to cope with uncertainty and the real question beyond PSD2, XS2A CMA, OBWG etc… is what about open banking or at least how to leverage regulations beyond the compliance mandates.
In this session, Bruno Cambounet, VP Bank & Finance Services Solutions, will share Axway's return on experience and perspective on the challenges to move forward in such an uncertain context.