Until recently, banks had an uninterrupted monopoly over banking, finance, loans, and investments. They have always enjoyed a higher position with the vast amount of data they hold. However, the dynamics of the financial market have changed dramatically. New...
PSD2 was first introduced to the world in January 2018 to regulate the payment and finance sector in EU countries. The directive was launched to force big banks to share access to data with third-party providers (TPPs) promoting competition and bring innovation in the...
What is PSD2? The monopoly of banksThe EU directive PSD2(Payment Service Directive 2) are made so that payments and security of consumers can be taken to the next level. To allow for this to happen the PSD2 makes it easier for small startups and others that want to...
A long decade after the global banking crisis, the banking the industry has started to evolve to be customer-oriented and digitally driven. With technology, banks are now more capable of bringing solutions to customers based on their needs and requirements. E.g.,...
The concept of open banking lies in the co-existence of banks and emerging Fintech firms. Together, they could bring about new possibilities for creating a customer-centric financial ecosystem. Banks and financial institutions will make use of the vast customer data...
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