Fast Market Research announces the availability of the new Verdict Retail report, "Preparing for PSD2 and Open Banking", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 06/13/2016 -- The EU's Directive on Payment Services 2 (PSD2) will accelerate the fragmentation of Europe's retail banking industry following the global financial crisis. The opportunities brought about by PSD2 will energize banks with strong brand awareness and advanced digital offerings into pushing the boundaries of open banking. Increased competition from card issuers and non-bank third-party providers will prompt steady mid-cap players to fundamentally evaluate their strategies. Banks that are competing on price may see a future in collaborating with third parties, but in doing so will relinquish control over their customer relationships. Whichever path is chosen, the opportunity to offer, create, or co-create new products and services much more quickly is a positive change for the industry.
Get More Details on this Report and a Full Table of Contents at Preparing for PSD2 and Open Banking
-Banks must ultimately view PSD2 as a business model change, and not simply a compliance issue.
-PSD2 fundamentally rebalances control over customer data in favor of the consumer.
-PSD2 has the potential to undermine customer loyalty by distancing banks from their customers.
-The capping of interchange fees will force card issuers to push aggressively into the personal loans market.
-Consumers show a strong preference for their bank to provide account aggregation services.
-Many banks will be in a position to offer additional apps over and above what is required by PSD2.
-Banks with an established presence in fintech through incubators and accelerators will be in a stronger position to capitalize upon the opportunities brought about by PSD2.
Verdict Financial's "Preparing for PSD2 and Open Banking" report offers insight into the changing regulatory structure, new competition, and how banks should position themselves in the new market environment.
-Insight into consumer preferences on account aggregation using our 2015 Retail Banking Insight Survey.
-SWOT Analysis on PSD2 and open banking.
-Guidance as to how banks can shape their propositions leveraging third-party providers.
Reasons to Get This Report
-Understand the impact of PSD2 on retail banking.
-Identify strengths, weaknesses, opportunities, and threats posed by PSD2 and open banking.
-Action key tactical steps to ensure compliance with PSD2 regulation.
-Envisage how banks can provide value-added products and services in an open banking environment.
Companies Mentioned in this Report: Swave, Dyme, MaxMyinterest, Spendific, Digit, Money Box, Acorns, Drive Wealth, Money Hub, Pension Bee, Namu, Iquantifi, Mobiliti, Five Degrees, Nymi, Visa, Sho-card, Personetics, Wallaby, Vouch,
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Financial Services research reports at Fast Market Research
You may also be interested in these related reports:
-Joint Stock Commercial Bank - Bank of Moscow (Open Joint-Stock Company) : Company Profile and SWOT Analysis
-Open Joint-Stock Company Russian Agricultural Bank : Company Profile and SWOT Analysis
-Seacoast Banking Corporation of Florida (SBCF): Company Profile and SWOT Analysis
-Australia and New Zealand Banking Group Limited (ANZ) : Company Profile and SWOT Analysis
-Lloyds Banking Group plc (LLOY): Company Profile and SWOT Analysis