Training Objectives

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

• Familiarise themselves with the key provisions of PSD2 
• Understand the new features brought by PSD2 compared to PSD1 
• Understand the impact of fintech on the development of PSD2, and the opportunities for further fintech development thanks to PSD2 
• Identify market participants (focus on Payment Institutions and Electronic Money Institutions), including new market entrants (TPPs) governed by PSD2. 
• Understand market participants’ developing business models, products, services, and innovation (mainly driven by fintech) 
• Explain what Open Banking is and what are its implications 
• Understand the requirements and standards for Strong Customer Authentication  
• Understand the continuing use of technology, especially disruptive technology, in the payments industry 
• Identify and critically assess the new trends, customer expectations, and technologies affecting the payments industry 
• Identify and explore the challenges of integrating fintech and navigating PSD2 compliance  

Training Outline

Introduction and Overview of PSD2 

• Background: what is PSD2? 
• Development from PSD1: key changes introduced 
• Regulatory context 
• Key objectives of PSD2 – link with fintech 
• Who does it affect? 

 Analysis of PSD2 

• Explanation of main Titles (six Titles), fundamental provisions, and exemptions 
• Payment Service Providers: focus on Payment Institutions and Electronic Money Institutions  
• New Services/Providers – Third Party Providers (TPPs): Payment Initiation Service Providers and Account Information Service Providers  
• Open banking and regulatory technical standards 
• Strong customer authentication  

  Fintech & PSD2 interplay and reinforcing relationship 

• Fintech developments in relation to PSD2 and payments industry  

– Open banking & API  

– TPPs impact on payment processes and e-commerce  

– Emerging business models: neo-banks (often operating as Electronic Money Institutions) 

– Emerging products and services, e.g. cryptocurrencies  

• Technology use and trends in payments 

– Technology used and developed in payments, such as Biometrics and Blockchain  

– Main applications, such as facial recognition for KYC and electronic signatures  

– Regtech: technology used for compliance purposes  

Key Challenges in Fintech and PSD2 implementation 

• Discussion of challenges facing PSD2 and fintech implementation (such as compliance, technological issues, BigTech firms’ threat, integration of fintech solutions depending on business (incumbent, new entrants), keeping abreast of trends and disruptive technologies).  

Who Should Attend

The programme is ideal for: 

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

Training Style 

The seminar is designed to deliver theoretical knowledge mainly via two (2) sessions of live online training course supported by power-point presentations. Furthermore, participants will have the opportunity to pose questions and further discuss during the Q&A section of the seminar. 

CPD Recognition

This programme may be approved for up to 7 CPD units in Banking and Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

For the CySEC requirements, CPD units attained from this course should not exceed the 50% of the total CPD Units of each individual.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.