PSD2 Is ‘Headache For Everyone’ Despite ‘Opportunities’: RBS

PSD2 Is ‘Headache For Everyone’ Despite ‘Opportunities’: RBS

The European Union’s Advanced Payment Services Directive (PSD2) is a “headache for everyone” according to a UK bank spokesman. At Monday’s London Fintech Conference, Royal Bank of Scotland head of open banking and fintech solutions Alan Lockhart said that a “change of mindset” was needed from banks traditionally unwilling to embrace new thinking. Nevertheless, he said, the new rules, which come into force in 2018, presented “huge opportunities” for legacy institutions to get on board with ideas from innovative fintech startups. “One of the huge opportunities that is right on the doorstep....


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