The impact of PSD2 : What are the challenges and potential solutions for established banks regarding FinTech companies and digital platforms?

2019

Master's thesis Business Administration BE501 - University of Agder 2019 The European Union has revised the original Payment Service Directive1. The new Payment Service Directive 2(PSD2)forces the banks to implement Application Programming Interface (API), making it possible for third-party providersto gain access to the bank’scustomer datawithout approval (given the customer’s consent).The European financial market is quickly changing with new customer needs and new innovative technologies emerging from FinTech startups, targeting each part inthe value chain of traditional bank-service providers.PSD2 enhances the innovation of the financial industry, forcing banks to make a digital transfo…