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ARTICLE · 16 NOVEMBER 2017

PSD2 | Are Firms Ready?

Deloitte
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Two months from today, on 13 January, the revised Payment Services Directive (PSD2)1 will come into effect across the European Union (EU).

European UnionFinance and Banking
Stephen Ley
Stephen Ley
Adam Scott
Adam Scott
Valeria Gallo
Valeria Gallo
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Two months from today, on 13 January, the revised Payment Services Directive (PSD2)1 will come into effect across the European Union (EU). To understand how prepared the industry is for this deadline Deloitte surveyed over 70 firms across 18 European countries, between August and September, to gather their views.

The majority of firms, particularly within the banking sector, are broadly ready to comply with the conduct of business requirements which apply from January. However, there are significant variations in firms' preparedness to respond to the longer term strategic opportunities and disruption PSD2 may bring to the payments and retail banking sector, with many firms still in the early stages of formulating their strategic responses.

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