Just over a year ago, the second Payment Services Directive (PSD2) passed into law. Together with the more far-reaching General Data Protection Regulation (GDPR), PSD2 has been described as a huge leap forward for consumers in Europe, heralding a new age for banks and their customers. Banks’ willingness to embrace, and their capacity to effectively assimilate, the changes these regulations set in motion is expected to make or break many.
So, how will the banking industry change? Has it already changed? I sat down with Frans Labuschagne, country manager for UK and Ireland at Entersekt, to discuss PSD2 and how, and to what extent, it will alter the banking sector and the way you and I access our financial and payment services.
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