FF News Logo
Thursday, April 23, 2026
FinovateSpring | FFNews

Breaking News

InsurTech NY: DataHaven on Eliminating Data Silos to Achieve a Single Source of Truth MPE 2026: Uber on Scaling Payments Across 80+ Global Markets InsurTech NY: EarthDaily on Climate Risk Data InsurTech NY: Turris on Distribution Workflows Investa Secures Direct FCA Authorisation, Furthering Growth in UK Retail Options Trading Smartstream Research Reveals Five Realities Redefining Buy-Side Reconciliations bunq Surpasses €100m Traded in First Year of Offering Crypto Nuvei Launches Direct Acquiring in Mexico  TheZebra.com Reports Nearly Half of First-Time Homebuyers Could Struggle With Mortgage Costs as Insurance Premiums Climb Consumer Support for AI in P&C Insurance Nearly Doubles in 2026, Insurity Survey Finds Canopy Connect Expands Insurance Intake Platform to Meet Agency Clients Where They Are Mastercard Study: Nearly 9 in 10 Consumers in Latin America and the Caribbean Are Ready to Embrace Everyday Digital Payments Otoma Unveils New Global Payments Infrastructure, Names New Leadership FIS Levels the Playing Field: New Trading Platform Gives Firms Wall Street-Grade Investment Tools Ballerine Introduces Agentic Detection to Stop Merchant Fraud Early as AI Scams Rise

September 28 2016

Sibos 2016: Understanding the Impact of PSD2 on Payments

Share this post:

Share on LinkedIn Share on WhatsApp

During the Sibos sessions this year it was only natural that the compliance regulation of PSD2 was going to be spoken about.

Those who discussed the future of the financial industry, in regards to this regulation impacting it, many speakers were in favour for it to be implemented. For these speakers, they explained how the industry needs to look at PSD2 as a compliance directive, how it looks to find new ways to engage customers and how it aims too promote pan-European competition.

Giving a brief history and foresight into the regulation, four main provisions could be extracted from the talks. The benefits most widely discussed were; it will extend the scope beyond Europe, it standardises card surcharges, requires greater security in payments/ accounts and provides account access for third party providers through open APIs.

By accessing account and transaction information it paves the way for fintechs to play a bigger role in the payments industry. From this new entities will be introduced such as Account Information Providers(AISP), who’ll be able to provide a consolidated view of accounts and Payment Initiation Service Providers.

 

The issue around the regulation primarily comes fromm the fact that banks will have to invest a significant amount in security and extending APIs which is initially a burden however if looking at the big picture, will pay off.

The consensus of those who spoke about the regulation is that PSD2 is an opportunity to look beyond compliance. It can be an agent for innovation and banks can take on a role of an AISP. Naturally, the banks which decide to grab the bull by the horns and start creating APIs now will find it significantly easier to thwart newer competitors.

 

  1. InsurTech NY: DataHaven on Eliminating Data Silos to Achieve a Single Source of Truth

    Insurtech

     Read more
  2. MPE 2026: Uber on Scaling Payments Across 80+ Global Markets

    Event Videos 2026

     Read more
  3. InsurTech NY: EarthDaily on Climate Risk Data

    Insurtech

     Read more
  4. InsurTech NY: Turris on Distribution Workflows

    Insurtech

     Read more
  5. Investa Secures Direct FCA Authorisation, Furthering Growth in UK Retail Options Trading

    News

     Read more
FinovateSpring | FFNews
More On