The European Union’s revised Payment Services Directive (PSD2) has paved the way for a new era of Open Banking globally. As a result, it will have huge impacts on business models, security mechanisms and innovation in banking.
In recent times, a question that has arisen consistently is how security and innovation can go hand-in-hand.?
Open Banking was introduced to change and improve how consumers bank, but what’s become evident is that With PSD2, the number of third-party payments providers (TPPs) connecting to banks’ systems has increase, boosting the risks of unauthorized access to customer data or even fraudulent initiation of payments. So banks need to increase security, but at the same time grant access to all registered TPP – while also striking a balance between strong customer authentication and a frictionless user experience.
Through our research,in an extension to our already successfully running SCA Summit which was held in June 2019 we have identified that banks are struggling to implement Open banking along with SCA. Therefore, we are proud to organise Europe’s first dedicated Open Banking show to address this important challenge where Open banking is aimed at improving the customer experience but SCA is being viewed by many as a hurdle which can potentially create more friction.
This unique event will be jointly represented by 15+ leading speakers and it aims to gather about 100 attendees (mostly from local and regional banks, regulators, standard bodies, selected FinTechs) who are looking to stay ahead of the curve.
We invite you to come participate and engage at this unique show.