How PSD2 can benefit Corporations?

The Payment Services Directive 2 was designed to encourage innovation and competition by opening the market to non-bank providers and to stimulate banks into developing innovative services offered outside traditional banking. Therefore it obliges the banks to give authorized access to their customer accounts for retrieving bank account data and to initiate account-based payments.

Using these new functionalities, corporates are able to develop customer-centric products by accessing their customers’ bank accounts and payment information. With the right implementation strategy, corporates will be able to optimize their internal financial processes and introduce new value-added services to the customers and thus grow new revenue streams.

This brochure explains the context of PSD2 and describes some specific use cases related to corporates.