Fintech

Development is happening in places besides London and Silicon Valley, and that will give payment companies and financial institutions a wider range of technology solutions and partners, according to Aidan Hayes, senior vice president of financial services and technology for Enterprise Ireland.

While there are some potential challenges to address, the European-focused PSD2 is an opportunity for banks globally to bolster their service offering, while at the same time working with fintechs to respond effectively to changing customer demands, to drive both convenience and security in the fast-paced, online world, writes Frederik Mennes, senior manager for market and security strategy at the Security Competence Center at VASCO.

Mobile and other technology are changing payments and financial services quickly, leaving legacy systems and processes challenged to keep up, writes Ignacio De Marco, CEO of BairesDev.

As the agency pulls back its enforcement efforts, it opens the door for state authorities to pursue more cases against financial startups for their data collection and privacy practices.