Bankloch

Hundreds of blogs and articles have been published about PSD2, all calling it a revolution in the banking and payment landscape. With the deadline of PSD2 roll-out (14th September) just passed, I am surprised however how much practical questions (specifically on how the PSD2 APIs can practically be used by TPPs) I can’t find an answer on, even when I talk to people who are considered as experts in the subject. Below my list of top 10 questions related to the usage of PSD2 APIs, I am still trying to get an answer on. Being far from a PSD2 expert, some questions might have already clear answers, but despite intensive research and numerous discussions with PSD2 experts, I am still in the dark. Via this list, I try to open a reflection on the practical implementation of PSD2, as these low-level implementation issues might block the strategic intend of the PSD2 directive, which ultimately leads to very little change in the payments landscape. Question 1 : Are saving accounts a...

1. Introduction Just as "Cloud", "IoT" (Internet of Things), "Open Banking" and "Machine Learning", "Big Data" is   one of the most written buzzwords in the financial services industry   today, but just like the other mentioned terms a clear definition is not so easy to provide. Especially as "Big Data" is often used as a synonym for   customer analytics, real-time analytics or predictive analytics . The general consensus is that "Big Data" is the collective term used for the contemporary methodologies and technologies used to collect, organize, process and analyse   large, diverse (structured and unstructured) and complex sets of data , while "customer / real-time / predictive analytics" mainly refers to specific types of   analyses done on these data sets to find patterns and create business value . However, since the ultimate business goal of Big Data is not the data itself, but to get busin...