James Higgins

Product Director at AccessPay

Message Posts: 1 Comments: 1

Bio With more than a decade of experience in the banking sector, having held a number of cash management and FX technology focused roles at BNY Mellon and Morgan Stanley, James has all the knowhow to help you understand what next-generation financial services innovation can mean to your business.

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Financial Services Regulation

PSD2: Has enough been done?

24 Oct 2017

PSD2, the much vaunted reimagination of the original EU Payments Services Directive, is to be implemented by member states in 2018. The aim of PSD2 is to revolutionise the payments industry, influencing everything from the way we pay online, to what information we see when making a payment. The Big Changes The headline change PSD2 is set to deliv...

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PSD2: Has enough been done?

Thanks for the comment Ketharaman. MINT are operating in the retail consumer space whereas I'm focussed in this post on the corporate customer. Handing over of online banking credentials to third parties breaches security policy for many of these organisations. The same organisations do however want the benefits that an AISP can deliver to their multi-bank portfolio. Without the technical standards, then there will inevitably be a proliferation of data formats, some of which may not be machine readable, some of which may come from APIs and others from Host to host connections. Will the AISP be able to deliver the products and services customers are hoping for under PSD2 without defined technical standards? I think it's going to be difficult.

26 Oct 2017 Reply Read article