Let’s start with the basics, The Second Payment Services Directive (PSD2) was officially published by the European Commission in December 2015 and follows on from the First Payment Services Directive (PSD1), which was implemented in 2009.
The road ahead for investment banks remains bumpy and curvy, and navigating it will require that each institution take bold action to enact the business model that will enhance its strengths in today’s challenging economic climate. Despite some recent gains, factors such as high costs and product complexity are still weighing the sector down.