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Good concise overview of PSD3 changes. Thank you.

Thanks for a good blogpost. One thing left on too little notice is that in semi-closed loop wallet ecosystems with wallet-specif currency, fraud management can be much improved compared to current payment solutions. When you KYC/KYB both users and merchants + monitor transactions in real-time + control on/off -ramps to fiat currency, you can recognize and discard more fraudulent transactions and kick out bad actors.

Good article. The discussion between centralized / decentralized has been too long on a technical level and should move upwards in value stack. A few further thoughs in very short format. Key drivers for centralization in "DeFi" are user/brand experience and trust, fraud management and business model logic.  Identity is a second use-case area with meaningful market adoption.

Hello. Good text. I agree that future of banking and payments is data - but with a different twist than you suggest. Data is necessary for risk management. For "marketing" data will power information & payment platforms/ecosystems. Bank doesn't use the data itself but rather shares it with ecosystem partners (with user consent for free, convenient, real-time services). The notion of banking and payment as a self-sufficient data silo is weakening by the day.

In response to Philip A. - the list of digital identity use-cases is in fact endless. Over time next to all transactions will be digital even when happening f2f. The solution is to separate the transaction authorization with strong authentication based on verified identity from the transaction processing. This is already happening in e.g. payments with 3DS 2.0. With separation, the transaction processing complexity is an use-case & industry specific issue.

Banks in Nordics have been front-runners in online & mobile first banking since 10+ years. Now we see the mobile only challengers disrupting the industry. It is high time for incumbents to embrace customer digital identity and convenient user experience into digital banking.

I agree with Mr. Panetta that even a half-way house EU CBDC is better than nothing - and even that might not be enough looking further into future. The business case for issuing digital currency is too compelling to be overlooked (by tech giants) but so is the possibility of reducing USD hegemony (by China).

Congratulations. Highly interesting and inspiring. Looking forward to great success. Good to hear that Worldline is so active on this front - impressive for the company. 

Great text and easy to agree with most predictions. I would like to add one more thought about 2021. As payments converge with digital identity, distributed identity solutions will become the key motor enabling digital payments in a mobile first business environment. 

Highly interesting and funny piece of research - if it is fair to say so in the context of such a grim subject. Pity that foodball didn't come home yet...