PSD2: Three years after the introduction, financial innovations are still scarce

Three years after the introduction of PSD2, which required banks to share customer payment data with Third Party Providers, the high expectations have not yet been met. All banks have realised the necessary technical infrastructure, and new players and new applications have emerged, mainly aimed at information and aggregation. The number of innovations where payments can be initiated on behalf of the customer is still very limited. The main cause of the lagging innovation is the lack of coordination and standardisation. In addition, research shows that European consumers are still reluctant to share their payment details with third parties. The United Kingdom is an exception, where the nine major banks have worked together from the outset to make PSD2, AKA Open Banking, a success, which has resulted in a number of innovative applications. There are also opportunities for European banks to create more value with the help of the new possibilities. For this, PSD2 must definitely come out of the sphere of compliance and be seen as a commercial opportunity to conquer market share, certainly in combination with Instant Payments.

Read more about the article Daniel van Delft on the future of Currence
Daniel van Delft

Daniel van Delft on the future of Currence

Daniel van Delft has been appointed CEO of Currence with effect from 1 February 2021. Daniel has been Country Manager of VISA Netherlands for the past 10 years. Before that, he worked at Fortis and ICS, which was part of Fortis at the time. With twenty years in the payments industry, it's safe to say that Daniel is a “Payments nerd” who can talk passionately about card technology and point-of-sale payment trends. What expectations does he have for his work at Currence, and what accents will he place?


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