Guest speaker: Mathieu Desmet: Chief Information Officer, Banque CPH, Belgium
PSD2: The European open banking experience (Belgium)
As the PSD2 (Revised Payment Service Directive) becomes implemented, banks’ monopoly on their customer’s account information and payment services is about to disappear. In short, PSD2 enables bank customers, both consumers and businesses, to use third-party providers to manage their finances.
While such a Directive is already a reality in Europe, there are other regions in the world, like in Latin America, that are likely to follow with regulations largely inspired in the PSD2.
The Spark covered the implication of such a Directive in Europe and how Coop Banks have been preparing for its implementation.