Open Banking: A new era in financial services is about to start

How Fox-IT Enables Open Banking and PSD2

Open Banking: A new era in financial services is about to start

It has begun! Open Banking is about to start, creating a lot of excitement and also…worries. How will the new financial ecosystem evolve? In what pace will people adapt to other services in the domain of their moneymaking and payments? Adaption seems easily looking at introduction of the contactless chip and new apps which are launched by banks as we speak. We see a lot anticipation in the market, where banks are moving towards fintech space and re-inventing their business models as PSD2 is on it’s way. Focusing on threats to current business models for banks and opportunities to be the bank of the future. For fintech’s the battle will start…but who is aware and anticipating new cybercrime opportunities? Their new ‘business models’?

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