PSD2 and Open Banking – Making Banks Dance to Customer and Disruption Agendas
2018 is set to be a game-changing year for banks, digital service providers and customer expectations. As PSD2 (revised Payment Service Directive) is adopted in Europe and the Open Banking initiative takes off in the UK, banks’ interaction with their customers is under threat and the demand for real-time information and services is becoming the norm. Is this a chance to re-invent banking services, delivered through APIs and how will Australian banks and retailers be pushed to take NPP to the next level?
In this presentation from Payments Innovation 2017, Jo Spencer Head of Technology, Strategy and Architecture – Payments, ANZ, explores:
- What the PSD2 and Open Banking initiatives look to achieve
- What this means for customers in Australia and other countries
- The risk of disintermediation and banks losing touch with consumers
- The meteoric rise of the API and the need to find the right partner
- The push for banks to place emphasis on customer experience (CX) to differentiate and maximize their platform impact
- The change agenda and who in Australia’s ecosystem can capitalize on it
- The potential extended use of NPP current and future features in this ever-evolving environment
- The need for an industry response on data, customer arrangements, identity and security
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