BIGcast

In this episode:

• PSD2: what it does, how it works, how it aims to spur innovation, and the related acronyms you need to know.
• The implications for FI operations, account holders and process maturity.
• Who should pay for the data distribution?
• How PSD2 can lead to decentralization, disintermediation, loss of revenue and the start of banking as a platform, as well as innovation, competition, and new options for customers and new recurring revenue streams.
• Terms, conditions, and informed consent.
• What does banking as a platform look like?
• Will a PSD2-type of regulation be implemented in the United States? If so, would it pose a threat or an opportunity?

URLs related to this week's BIGCast:

• http://bigfintechmedia.com/Podcast/sharing-financial-data-safely-smartly-and-profitably - Part 1 of the PSD2 BIGcast.
• http://www.thepaymentsreview.com/psd2-a-primer - “The Second Payment Services Directive (PSD2) – A Primer” article by Tom Davis of CSCU.
• http://bigfintechmedia.com/Podcast/fintech-innovation-with-a-posh-accent - Previous BIGcast that features interviews with several companies building products leveraging the PSD2 directive.
• http://www.thepaypers.com/expert-opinion/psd2-xs2a-adoption-what-are-the-implications-for-banks-/763148 - Article on PSD2 adoption on The Payer’s Web site.
• https://www.accenture.com/us-en/insight-psd2-opportunities-banks - Accenture’s overview of PSD2 for European financial institutions.
• https://www.evry.com/en/news/articles/psd2-the-directive-that-will-change-banking-as-we-know-it/ - Article on the Evry Web site regarding how PSD2 is going to disrupt the European banking industry.
• www.FinancialSolutionsLab.com Info on the FinLab, for which the Center for Financial Services Innovation (CFSI) is accepting applications

Automation and Innovation:

• https://zapier.com/ - Zapier allows you to link and pass information between apps.
• https://ifttt.com/ - If This Then That allows you to automate your Web activities and apps.