FINEXTRA: PSD2, the time to act is now

There’s nothing quite like an impending deadline to shake you out of summer holiday mode – and PSD2, due to come into force on September 14th, is a significant one.

Whilst the FCA recently confirmed an 18-month delay to the Secure Customer Authentication (SCA) aspect of the directive, PSD2 is about so much more than multi-factor authentication. It presents an entirely new legal structure for payments throughout the EU, introducing new types of third-party providers and, crucially, requires banks to allow secure access tothose third parties.