PSD2 – a view from Financial Institutions

Yesterday, saw the second of our well received payment roundtables with the topical discussion on PSD2: The Payments World Turned Upside Down? – the second iteration of the Payments Services Directive, which is expected to come into force in Europe next year.

This event took place over breakfast at  1 Lombard Street and it was well attended by some of UK’s biggest banks such as RBS, Lloyds, TSB, Santander, Citi and Deutsche Bank.

Keynote presentations were from:

• Tom Hay, Head of Payments, Icon Solutions
• Paul Anning, Partner, Osborne Clark
• Michelle Barry, Head of Product Development, Vocalink

All presentation can be viewed here – PSD2 Roundtable

Insights

Although the legislation will place new obligations on financial institutions, it will also offer new opportunities for banks to provide exciting new digital services to customer.

Key discussion points raised were:

• The drivers for PSD2 Access to Account regulations.
• The legislative requirements for PSD2
• Security issues around data protection and risk to reputation of Banks through using TPP’s
• The future of the customers banking experience.

If you would like further information on the outcomes of Icon’s PSD2 roundtable or be kept abreast of our Payment related activities please contact Daniela.sarti@iconsolutions.com.