Digital transformation opportunities present themselves in many forms. Changes in customer behavior, the shift in social norms, the rise and collapse of certain industries, regulatory measures could all potentially be a digital transformation opportunity. Banks who viewed PSD2 and Open Banking as an imminent threat are now looking at it as a catalyst for digital transformation. This keynote will explore the role of PSD2 in redefining the financial industry.
9. Payment Services Directive 2
EU Directive that applies to
all banks operating in the EU
that regulates payment
services throughout the EU,
with a compliance deadline of
January 2018
10. Mandates Banks to
- securely expose
- customer Account and Payment data
- with customer consent
- to regulated third parties
- via APIs
22. Digital Transformation - Market Expansion
Bank A
Bank B
Bank C
Merchant
Consolidated customer
account and payment
info across
multiple Banks
TPPTPP
23. Digital Transformation - New Revenue Streams
Consolidated customer
account and payment
info across
multiple Banks
Bank A
Bank B
Bank C
Merchant
TPP
25. • Vision: Regulation vs. Business Opportunity
• People: Concern for Compliance & IT vs. All
• Culture: Take nothing for granted, keep innovating
• Technology
Recipe for Digital Transformation
Ingredients