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Day: January 13, 2020

The Technology Giants that Threaten the Financial World

The Technology Giants that Threaten the Financial World

Technology
More and more technology companies are entering the financial world with new payment services. For the traditional banks it is important to watch out. New provisions in the Payment Services Directive PSD2 mean that third-party providers can use banks' customer data and infrastructure. This has paved the way for a number of new players to enter the financial world and challenge the traditional banks. Above all, the global technology companies have jumped on the train. A development we probably only saw the beginning of, experts say. The classic banks and financial systems that exist today are incredibly complex, but with the new directive the tech giants can take advantage of the existing infrastructure. PSD2 creates a whole new world of opportunities for new services and busine...