The entry of a number of agile new players in financial world and the implementation of PSD2 in Europe have seen banking and FS turn a corner into a new, customer-centric age.
While PSD2 requires opening up access to some account data, banks still retain masses of valuable data that can be analyzed, repackaged and monetized to offset compliance investments. Security and compliance with GDPR is also a key constraint on opening up data.
The world of physical transactions is increasingly being replaced by online, in-app and mobile payments. Transaction speeds need to keep pace. System automation is central to banks.
Looking long term, ensuring the continued compliance, operational soundness and security of solutions requires regular risk assessments and strong monitoring processes to be implemented.
With over twenty years experience in financial services, FIME is the leading partner to support banks meet these new market challenges.