{"id":5498,"date":"2017-12-02T10:02:38","date_gmt":"2017-12-02T10:02:38","guid":{"rendered":"https:\/\/insights.invyo.io\/europe\/?p=5498"},"modified":"2019-04-12T16:49:46","modified_gmt":"2019-04-12T16:49:46","slug":"factsfigures-are-you-psd2-ready-by-deutsche-bank","status":"publish","type":"post","link":"https:\/\/insights.invyo.io\/europe\/analyses\/factsfigures-are-you-psd2-ready-by-deutsche-bank\/","title":{"rendered":"[Facts&#038;Figures] Are You PSD2-Ready? By Deutsche Bank"},"content":{"rendered":"<p><strong>Techfoliance is extracting key data and facts from industry reports on the rise of Fintech in Europe so that you can focus on what matters the most for you.<\/strong><\/p>\n<p>In this report published on October 2017, the German bank Deutsche Bank shared a\u00a0<strong>Guide to the latest information and sources<\/strong> of support for the <strong>implementation of PSD2<\/strong> next January 2018.<\/p>\n<p>[divider]KEY FIGURES[\/divider]<\/p>\n<p><strong>Four months after PSD2<\/strong> enters into force, on 25th May 2018, the new General Data Protection Regulations (EU) 2016\/679 (GDPR) will come in.<\/p>\n<hr \/>\n<p>The <strong>EBA<\/strong> was mandated to issue <strong>6 Guidelines under PSD2<\/strong> addressed either to market participants or to member states\u2019 competent authorities.<\/p>\n<p><a href=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/TECHFOLIANCE_Guidelines-eba-psd2.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5501 size-full\" src=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/TECHFOLIANCE_Guidelines-eba-psd2.png\" alt=\"\" width=\"722\" height=\"285\" srcset=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/TECHFOLIANCE_Guidelines-eba-psd2.png 722w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/TECHFOLIANCE_Guidelines-eba-psd2-300x118.png 300w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/TECHFOLIANCE_Guidelines-eba-psd2-700x276.png 700w\" sizes=\"(max-width: 722px) 100vw, 722px\" \/><\/a><\/p>\n<hr \/>\n<p>The <strong>EBA<\/strong> was also mandated to develop and submit <strong>4 sets of\u00a0Regulatory Technical Standards (RTS)<\/strong> and <strong>1 set of Implementing Technical Standards (ITS)<\/strong> for adoption by the European Commission.<\/p>\n<p><a href=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/TECHFOLIANCE_RTS-eba-psd2.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5502 size-full\" src=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/TECHFOLIANCE_RTS-eba-psd2.png\" alt=\"\" width=\"718\" height=\"336\" srcset=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/TECHFOLIANCE_RTS-eba-psd2.png 718w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/TECHFOLIANCE_RTS-eba-psd2-300x140.png 300w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/TECHFOLIANCE_RTS-eba-psd2-700x328.png 700w\" sizes=\"(max-width: 718px) 100vw, 718px\" \/><\/a><\/p>\n<p>[divider]KEY FACTS[\/divider]<\/p>\n<p>PSD2\u2019s intention is to <strong>update European payments market regulation<\/strong> to account for an age of rapid technological change while <strong>encouraging competition and innovation<\/strong> in payment services.<\/p>\n<hr \/>\n<p>Progress in <strong>transposition of PSD2<\/strong> into selected countries\u2019 national law<\/p>\n<p><a href=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/progress-in-implementing-PSD2.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5499 size-full\" src=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/progress-in-implementing-PSD2.png\" alt=\"\" width=\"722\" height=\"288\" srcset=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/progress-in-implementing-PSD2.png 722w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/progress-in-implementing-PSD2-300x120.png 300w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/progress-in-implementing-PSD2-700x279.png 700w\" sizes=\"(max-width: 722px) 100vw, 722px\" \/><\/a><\/p>\n<hr \/>\n<p>The intention behind both the Directive and the Regulations is to <strong>strengthen data protection<\/strong>, putting the <strong>data\u00a0<\/strong><strong>owner at the centre<\/strong> and requiring his consent to <strong>capture, store or process any data<\/strong>.<\/p>\n<hr \/>\n<p>Significant changes in <strong>comparison to SecurePay <\/strong><\/p>\n<p><a href=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/PSD2-changes-in-comparison-with-securepay.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5500 size-full\" src=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/PSD2-changes-in-comparison-with-securepay.png\" alt=\"\" width=\"718\" height=\"333\" srcset=\"https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/PSD2-changes-in-comparison-with-securepay.png 718w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/PSD2-changes-in-comparison-with-securepay-300x139.png 300w, https:\/\/insights.invyo.io\/europe\/wp-content\/uploads\/2017\/12\/PSD2-changes-in-comparison-with-securepay-700x325.png 700w\" sizes=\"(max-width: 718px) 100vw, 718px\" \/><\/a><\/p>\n<hr \/>\n<p>Download the <a href=\"http:\/\/cib.db.com\/insights-and-initiatives\/white-papers\/are_you_PSD2_Ready_a_guide_to_the_latest_information_and_sources_of_support.htm?kid=psd22017q3wp.banker.ad#gsc.tab=0\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>White Paper here<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Techfoliance is extracting key data and facts from industry reports on the rise of Fintech in Europe so that you can focus on what matters the most for you. In this report published on October 2017, the German bank Deutsche Bank shared a\u00a0Guide to the latest information and sources of support for the implementation of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[551,2184],"tags":[1419,1799,1823,1826,657,807,280,1724,1310,1825,1828,265,808,586,1011,1827,662,1824],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>[Facts&amp;Figures] Are You PSD2-Ready? 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