European Institute of Management and Finance | PSD2, Open Banking and Digital Transformation
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PSD2, Open Banking and Digital Transformation

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PSD2, Open Banking and Digital Transformation

 

PSDII (Revised Payment Services Directive) is shaking the dynamics of the payment institutions and paves the way to a whole new host of unique and innovative payments systems.

 

Open Banking obliges banks and other account holding institutions to enable third party ‘account information service providers’ (AISPs) and ‘payment initiation service providers’ (PISPs) to access the payment account data they hold on customers, at those customers’ request, to allow the businesses to provide the customers with their services, unlocking, in fact, a new era of growth driven by digital.

 

The programme looks in brief at the key provisions of the directive and focuses on the challenges and opportunities banks face today, as well as discussing banking innovation and the digital approach that Banks should take towards a major digital transformation in order to stay ahead of the game, remain competitive and boost digital sales.

 

 

Programme Objectives

 

By the end of the programme the participants will be able to:

 

  • Describe the new features brought by PSDII compared to PSDI
  • Familiarise themselves with key provisions of the Directive
  • Comprehend the main requirements related to customer authentication and monitoring of transactions
  • Understand what Open Banking is and what are its implications
  • Appreciate the strategic opportunities and operational challenges of PSDII and Open Banking
  • Discuss the future of banking and payment services

 

 

Programme Outline

 

Introduction

  • Background of PSDII and the European Regulatory Package
  • Scope and timing of PSDII compared to PSDI
  • The six ‘Titles’ of PSDII

 

Key Features of PSDII and what they mean for the payments industry

  • Extension of scope
  • Strong Customer Authentication
  • Third Party Providers (TPPs) and the impact of introducing TPPs
  • Interaction with other legal frameworks

 

Guidelines and Regulatory Technical Standards (RTSs)

  • Strong Customer Authentication and monitoring of transactions
  • RTS for security between customers and their banks, and between banks and TPPs

 

Digital Innovation and Transformation

  • Innovation fuelled by technology
  • Challenges for industry participants
  • Potential future scenarios
  • The journey to digital transformation

 

 

Training Style

 

The programme includes short lectures supported by power-point presentations that aim to explain the main issues while providing the grounds for in-depth deliberation and debate.  Furthermore, participants will have the opportunity to pose questions and further discuss during the Q&A section of the seminar. They will also benefit from group work, where they will be called to brainstorm and offer their views for the matters discussed.

 

 

CPD Recognition

 

This programme may be approved for up to 5 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

 

Professionals requiring CPD units to meet the education requirements for CySEC licence renewal, and/or for maintaining other professional memberships/certifications which accept CPD in Financial Regulation, are advised to consider training subjects in categories that indicate CPD training in Financial Regulation.

 

 

Who Should Attend

 

The programme is ideal for:

 

  • C-Level Executives and Senior Managers
  • Money Laundering Compliance Officers
  • Compliance Managers
  • Compliance Staff
  • Sales and Buisness Development Executives
  • Internal Lawyers
  • Lawyers and Financial Consultants
  • IT Professionals
  • Card Operation Managers
  • Electronic Banking Managers
  • Legal Services professionals
  • Members of Innovation Labs
  • Licensed or non-licensed Third Party Providers (TPPs)