Europe’s PSD2 Allows Third Parties to Offer Banking, Means Collapse of Traditional Finance

Europe’s PSD2 Allows Third Parties to Offer Banking, Means Collapse of Traditional Finance

Following the EU’s adoption of its revised Payment Services Directive (PSD2), an industry player has said it will cause “the collapse of the traditional banking infrastructure.” PSD2, which allows third-party companies to offer banking services to consumers, could eventually transform banking in 67 countries worldwide through a ripple effect. Speaking to South African tech publication Gadget, Thomas Pays, CEO of i-Pay, a startup set to benefit from the legislation, said 2017 would be a watershed moment. “You are actually looking at the collapse of the traditional banking infrastructure and....


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Good Divorce: Will PSD2 Remain on the UK’s Agenda Post Exit?

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SWIFT: Bitcoin Regulation in the EU Won't Happen Soon

The European Union (EU) is years away from implementing a consistent framework for cryptocurrency regulation, according to a new report by the SWIFT Institute. The report notes the lack of convincing arguments to include virtual currencies under the EU's current legal frameworks, set by the revised Directive on Payment Services (PSD2) and the fourth European anti-money laundering directive (AMLD4). The PSD2, adopted in the EU in October this year, consists of a new set of consumer payment protection rules, which seek to promote the development and use of innovative online and mobile....

Eat or Be Eaten: Token Empowers Banks in Complying with PSD2

Silicon Valley’s Token takes the first step in leading European banks towards secure API banking with an opening of the office in London. The fintech world is buzzing about PSD2. With the deadline for its implementation approaching, European banks have started to realize the magnitude of the proposed changes in regulations and try to decide upon a strategy which would allow them to react to these changes accordingly. What all the fuss is about? PSD2 sets out to standardize, integrate and improve the efficiency of payments within the European Union, offering consumers better....

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