At the core of PSD2 is the requirement for banks to grant Third Party Providers (TPPs) access to a customer’s online account (XS2A) in a secure and regulated way via APIs. With that the European commission hopes that PSD2 will change the payment value chain by driving innovation and customers are looking for services that are more personalized and secure. For Banks achieving compliance for existing services is necessary but only part of the answer. To unlock the full potential any new services should be centered around the consumers digital identity.
