Open Banking Brings Opportunity, but How to Seize It?

By opening up consumer data and allowing access via APIs, PSD2 gives non-banking firms a chance to compete with banks in the digital payments business by building financial services platforms on top of the bank’s own data and infrastructure. For instance, a social media site could begin enabling people to pay bills there, or a FinServ firm could offer budgetary strategies based on complex analytics of personal income and spending data.