The Revised Payment Service Directive (PSD2) has caused serious waves in the European banking world. It started in 2015, when the European Commission sought to regulate payment services and payment service providers in order to level the playing field between banks, qualified payment service providers (PSPs), and other third-party providers (TPPs). The new directive required banks to provide PSPs and TPPs connectivity to customer account data and to initiate payments. The PSD2 has disrupted the financial payments sector, changing everything from online shopping to the information consumers see when they make a payment. The goal of PSD2 is to make people's experiences as seamless as possible. In addition, many banks have been trying to figure out how to comply with regulations, as well as how to compete with other banks plus everyone else that offers financial service applications. And fintech companies are looking for new ways to access that data for their customer base. Through PSD2, the EU wants to improve innovation, improve the user experience, increase consumer data protection, and improve the security of digital payments and account access within the EU. In order to help both banking officials and fintech developers understand how to leverage PSD2 to their benefit, Envestnet® | Yodlee® are hosting a webinar — Competing and Thriving in Today's Open Banking Environment — on July 12, 2018 at 1:00 PM BST (UK time)/8:00 AM EDT. You'll hear from Brian Costello, Chief Information Security Officer, Envestnet | Yodlee, and Lori Martel, VP of Platform Product Management, Envestnet | Yodlee. They'll discuss how our Open Banking API gives developers a way to integrate many European banks' accounts and data into their own fintech apps and portals. This single API makes it easier for developers to access multiple banks, retrieve data with a single API call, and still maintain the high levels of security required by international banking laws. Brian and Lori will also discuss how, rather than using several different APIs to meet a myriad of global standards, developers can ensure their data meets all necessary standards and will be provided in the same format every time. They will also be able to manage user credentials as required by PSD2 and Open Banking specifications. And they'll also share how to meet key security requirements known as Strong Customer Authentication (SCA), consent management, and federated authentication. Finally, they'll share how open banking can create new opportunities for banks, such as providing personalized loan products and even banking experiences for consumers, as well as new mortgages and loans, as well as financial management and cash management solutions. To learn more, you can sign up for the Competing and Thriving in Today's Open Banking Environment webinar on our website.
