In a recent article by Finextra, Meniga CMO and VP Business Development Bragi Fjalldal, shares his insights on how the landscape of financial services and retail banking is changing with PSD2 and GDPR regulation, what the combination of the two means for banks and their customers and how banks can react by getting the basics right as well as with new and innovative services such as card-linked offers and real-time market insights.
Read the full article here.
A recent Finextra survey global bank respondents cited Google, Apple, Facebook and Amazon (aka the GAFAs) as the biggest threat.
“if that’s [the banks’] biggest fear, why aren’t they doing more? The one thing that can prevent PSD2 or open banking from being a gradual process is if these guys do something, and it wouldn’t be that hard for them to build a much more compelling digital banking experience- they could just become a marketplace in return for access to data- they wouldn’t need a banking licence.”
Finextra is the leading independent newswire and information source for the worldwide financial technology community. Finextra covers significant technology news in wholesale and retail banking, the capital markets and insurance.
For more information visit www.meniga.com