PSD2: A wolf in sheep’s clothing for FinTechs?
The PSD2 remains a hotly debated topic, especially in regards to its pro-FinTech stance. Nevertheless, the winds of fortune may not be blowing in the right direction. In recent months, European FinTechs have been joining forces to lobby the European Commission and the European Banking Authority (EBA) to make changes to a proposed technical standard that could, if unchanged, dampen the ability of FinTechs to effectively compete against the incumbent banks. The concern amongst many is that this technical standard will make PSD2 pro-bank rather than pro-FinTech. At the heart…READ MORE