2018 has brought open banking to Europe. On January 13th, 2018, after more than two years of planning, the Payment Services Directive 2 (PSD2) arrived in Europe. This directive has for the first time forced European banks to open up their API’s to fintech and other financial companies. This change will give these companies access to payment data, which means there will be more competition in areas that banks have traditionally dominated. As a result, PSD2 is changing and will continue to change the relationships between consumers and financial institutes.    So, what is PSD2, other than a wonky acronym?…

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