There are numerous articles related to PSD2 as to what it is and what it will mean to the various parties involved but there are also countless firms stating that they offer PSD2 solutions, which in theory, some may be relevant. So how do you differentiate
between them all?
In the past we would rely on our sometimes expensive but well known staple providers as the go to firms as they were loved by our procurement departments as it made their lives easier and the safe choice by executives that did not want to risk their short lived
tenures by bringing in a less known fintech which in many situations would have been the most (time) efficient and least expensive option.
This leads well into our current situation with PSD2. This regulatory change has allowed for previously unknown fintechs to be at the same playing field as the big boys and compete in offering solutions to this change.
So now that they are all showing up at the dance how do you choose the right partner, which was my initial question? In my point of view it is down to a couple of points: 1) experience in the market or at least a credible experienced team 2) a solid company
structure to show that they won’t only be around for one solution and then disappear and 3) that they actually have a product, a solid execution plan and a price tag that makes sense.
I would like to hear your opinion on this subject.