Informing action, managing change
The second Payment Services Directive (PSD2) will be implemented in the UK in January 2018 and affect a wide variety of payment institutions, including Banks, Buildings Societies, FinTech Platforms, E-Money Institutions, Acquirer Payment Institutions, Money Remitter Payment Institutions, Store card providers and Retailers.
To meet regulatory obligations and secure the opportunities being created, will require significant changes to systems, processes and procedures. Being able to understand and interpret a range of new concepts and acronyms will be essential. Without expert advice you run the risk of regulatory breach, costly rectification and missed opportunities.
When the current Payment Services Directive was implemented in 2009, many firms underestimated the effect, leading to later costly and resource intensive rectification. At the time, our Payment Services Practice Director, John Burns, was the Financial Services Authority’s Technical Specialist on payments. This gave him a unique insight into the issues, which enables us to help you learn from these errors.