PSD2: A Step into the Unknown | Protiviti - United Kingdom

PSD2: A Step into the Unknown

PSD2: A Step into the Unknown

You're Invited to a Breakfast Seminar

The revised Payment Services Directive (PSD2) is due to come into force in 2018 and will require all payment account providers across the EU to provide third party access. In addition, the Competition and Markets Authority is enforcing Open Banking requirements on the nine largest current account providers in the UK. These two regulatory requirements coincide and amplify each other, but what do they mean in reality for large banking groups and small payments providers alike?

As we move into an era of unprecedented regulation and legislation, organisations will need to consider the impacts on their business, both in terms of complying with the requirements and mitigating any increased risk of fraud and security breaches. They should also consider the opportunities to explore new business models and channels of customer engagement as a means to gain competitive advantage and increase market share.

The implications of overlapping and potentially contradictory regulation, such as the General Data Protection Regulation (GDPR) and AML Directive (AMLD), must be fully understood in order to avoid noncompliance and minimise the cost of adherence. Synergies and conflicts across different regulatory requirements must be considered when delivering change and regulatory transformation programmes. Organisations should seek to implement a robust governance structure to resolve conflicts, bring organisational perspectives and align independent projects and programmes within a changing regulatory landscape.

Please join Protiviti and other selected industry experts for an in-depth discussion around the risks, opportunities and unintended consequences of PSD2. This session will cover:

  • Tackling the risk of fraud and security issues resulting from PSD2 and Open Banking;
  • Addressing the potential synergies and conflicts across differing legislation, including PSD2, GDPR and AMLD;
  • The benefits of implementing a robust organisational governance structure to oversee independent regulatory transformation programmes;
  • The need to leverage the increasing availability of data to create new opportunities;
  • Next steps for financial institutions and payments providers to ensure they effectively balance the risks and opportunities of these new regulatory requirements.

Registration from 8:00 AM | Buffet breakfast will be served.

Yours sincerely,

Tom Lemon
Technology Consulting Practice Lead, Protiviti UK
Derek Cummings
Director, Business Performance Improvement, Protiviti UK
John Harvie
Director, Business Performance Improvement, Protiviti UK

 

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Event
Date
15 Nov 2017
Time
08:45 AM to 10:15 AM GMT
Location
The Shard, Protiviti, 32 London Bridge Street, 17th Floor
London
SE1 9SG
United Kingdom
Event Type
Wednesday, November 15, 2017 - 8:45am to 10:15am