The new EU Payment Services Directive (PSD2) comes into effect on 13th January 2018, and could cause – among other consequences – significant changes for payment service providers’ back office processes.
In a Q&A article for Asset Servicing Times, Shahrokh Moinian, Global Head of Cash Management Corporates, Deutsche Bank, answers the industry’s most pressing questions surrounding the regulatory change – from its revised scope to the likely industry benefits.
Assessing PSD2’s advantages, Moinian says the regulation will “level the playing field by allowing third-party providers access to the market, bringing them under regulatory supervision, and guaranteeing them access to customer account information. The result should be a vibrant, innovative and secure payments market in Europe, benefitting corporates, consumers and the market as a whole.”
To read the full article, please click here.