PSD2, Open Banking & Impact on the Digital Strategy
by François De WitteLanguages: German, English, French
About the trainer:
Multi-lingual, results and solution oriented professional, fluent communicator and negotiator with 2 Master Degrees (Law and Economics), over 30 year of treasury and banking experience in an international environment. Areas of competences: Treasury, Commercial Banking, Cash Management, financing, working capital optimisation, banking, PSD2 and open banking, project management and strategy (definition and implementation)
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PSD2, Open Banking & Impact on the Digital Strategy by François De Witte
About the training
#PSD2 #Third Party Providers #RTS #Access to the accounts #Consent #Strong Customer Authentication #Fintech #GAFAM #Open Banking #API #Digital Banking Strategy #Card payments #Instant Payments #standardization
The European Payment Service Directive 2 (PSD2), requires banks to have access to accounts to third parties (TPPs) that can in turn consult information about accounts or initiate payments, subject to customer agreement. The impact of PSD2 and the related regulatory framework on the financial sector is enormous. It creates a framework for open banking, where new actors will emerge, the third parties. They have an innovative range of services and the flexibility to deploy new technologies, enabling them to make successful payment proposals. In turn, traditional players, such as banks, take advantage of their large customer base, their reach and their reliability. We are therefore faced with a real revolution within the traditional banking sector. The strategic and technological challenges related to this are not to be underestimated. PS2 is an opportunity both for the newcomers and for the established banks to review and develop their digital strategy. Hence, it is crucial to understand the actors implicated in the PSD2 and the open banking architecture overall, and more in particular the risks and opportunities it creates, in order to stay ahead of the game, and the impact on the Digital Strategy.
Learning outcomes
Regulatory framework
Provide an outline of the PSD2 and the related regulatory framework
Affects
Make participants aware of the ways PSD2 is going to affect the financial sector
Open Banking
Understand the impact of Open Banking on the market
IT requirements
Asses the IT requirements of Open Banking (APIs)
Program
PSD: Who is who on the map?
XS2A (Access the Accounts)
SCA (Strong Customer Authentication) requirement
PISPs and AISPs vs ASPSPs: How to visualize the new roles?
PSD2 and GDPR
Timetable
Risks, Responsibilities and obligations of the related parties
SCA: Impact of the 2 Factor Authentication
SCA: how to set this up in practice
Technology: building interfaces – APIs (Application Programming Interfaces)
Standardization initiatives
Addressing the fraud and cyberattack risks
Practical aspects
Group Exercise – case study
Banks: Will banking be commoditized?
Impact on the cards business
Will telecom Operators and retailers take over the role of the banks?
FinTech Companies: ready to disrupt banks?
Implication on the Digital Banking Strategy
Impact of PSD2 on the consumers, merchants and corporates
Other developments in the payments market : instant payments
The new role of competition and cooperation
Group Exercise - Case study
Main benefits
- #Wide collection of the biggest experts
- #Filters for all kinds of needs
- #User friendly platform
- #Fast and cheap
- #Highest level of proficiency
More trainings of the trainer
Payments and Cash Management