PSD2 And GDPR: Customer Consent Tops Regulators’ Agenda

Two major UK regulators have instructed firms preparing for open banking to make consumer consent their top priority — particularly once EU-wide data protection reforms take effect next month.

Under the revised Payment Services Directive (PSD2), banks cannot deny account access to newly regulated third-party providers as long as they have obtained the consent of the end user.

Request a Free Trial

As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.

Take a Trial