The transformation of banking - Threats and opportunities of open banking
The world of payments is set to change immeasurably over the coming years as consumers demand value-added products and expect increased speeds of service, including true 24x7.
Fintech start-ups are increasing in greater numbers, fuelled in part by global investors placing bets on who might become the next unicorn. At the same time, incumbent players are innovating whilst having to navigate unprecedented amounts of regulatory change – not least the first iterations of the much discussed Second Payments Services Directive (PSD2) which promises to significantly open up competition and innovation to non-bank financial institutions. But what does this mean for those doing business?
See this interview of The Banker with Mark Buitenhek, global head Transaction Services, ING, and moderator at the SWIFT Business Forum London on 25 April.