Europe’s new payment directive to spur banking competition

27 March 2018 | 3 minutes read

The revised Payment Services Directive (PSD2), which fully came into effect in Europe on January 13, 2018, will increase competition among banks and cause a ripple effect across the APAC region, a regulatory expert told Asian Private Banker today. PSD2 requires European banks to aggregate client data in a uniform format for third parties to process, thereby removing barriers around…

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