BrazilPSD2 Marketplace: overview of players in the PSD2 ecosystem
Enigma Consulting has launched PSD2 Marketplace, a platform that provides the latest insights in PSD2 developments and matches players in the PSD2 ecosystem, including banks, fintechs and service providers.
The Payment Services Directive 2 (PSD2) directive went into force between January 13, 2018 and September 14, 2019 across European Union members states. The law seeks to create a single integrated market for payment services by standardising the regulations for the banks and (online) payment service providers. The law also aims to increase competition in the space by forcing banks to give third parties access to their payments infrastructure.
From a consumer viewpoint, PSD2 aims to improve consumer data protection. The entry of new players in the payments landscape means that third party players can – if granted access – use consumer payments data for services. This is unlocking all kinds of innovations are becoming available, which can enrich the financial household of consumers.
Further, stronger security requirements have become mandatory with PSD2, also known as Strong Customer Authentication (SCA). This involves a two authentication factors for bank operations that were not previously required, helping consumers keep their data safe.
Since the introduction of PSD2, all kinds of players have flocked the market, including companies that provide credit rating services, facilitate payments information, firms that improve AML and KYC compliance, support consumers with personal finance management. Meanwhile, the market’s growth has meant that there is demand for a range of professional services focused on PSD2 advisory and implementation.
With the launch of PSD2 Marketplace, Enigma Consulting aims to “create transparency and overview in the fragmented market” so that players can interchange their products, solutions and services. The platform also supports matching, both in the B2B (companies to companies) as well as the B2C (consumers with companies) segments.
