Open Banking, PSD2, and the Transformation of Financial Services

Techinnews Staff
Techinnews Staff January 25, 2018
Updated 2022/04/14 at 11:07 AM
Open Banking, PSD2, and the Transformation of Financial Services
Open Banking, PSD2, and the Transformation of Financial Services

New customer-centric banking models are poised to transform financial services for the new digital economy. Embodied in the Revised Directive on Payment Services (PSD2) regulation soon to take effect across the European Union, and in the Open Banking mandate that will come into force even sooner in the United Kingdom, these new rules will require banks to give third party financial services providers direct access to financial data that bank customers—both individuals and businesses—choose to share. While the transition to this new open ecosystem poses a regulatory challenge for banks, it also represents a profound opportunity to create new value for customers, new forms of competitive advantage for banks, and new business models for financial services startups.

ForgeRock provides solutions and expertise to help banks achieve compliance with Open Banking and PSD2, create innovative products and services, and establish a strong competitive position for the new era of banking innovation.

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