Antti Lemberg, the head of Frontier’s financial services practice, spoke today at the Retail Banking Europe 2018 Conference about the effect that Open Banking and Payment Services Directive 2 (PSD2) might have on banks.
The conference brought together industry leaders and decision makers who discussed how European banking markets have developed since the regulation came into force and what might be in store in the near future. There has been an extended debate about whether or not the banking market will be majorly disrupted ever since the changes in regulation were proposed.
Antti’s speech highlighted that financial services have not experienced a complete tech revolution yet. However the use of digital propositions is growing increasingly quickly, and Open Banking could potentially cost banks a large share of their revenue. He discussed how the economics of banking have changed and what this means for banks and their relationship with Fintechs.
Antti will deliver his talk and reflections from the conference at our breakfast event “How much could Open Banking cost banks?” in London in December. To register your place, click here.
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