UK Banks Can Learn from their U.S. Counterparts in Response to PSD2

March 28, 2017 - Financial IT

Banking executives will gather to discuss the challenges of PSD2 implementation at a Congress in London, and early signs point to a battle over the new legislation’s customer data access requirements.

Banks need to collaborate rather than compete, says V.S. Raj, Head of Financial Services at Syntel. “The big question now is how big banks can pivot from merely being a conduit for customer data to becoming a challenger to the innovative fintech companies looking to chip away at their customer base,” said Raj.