Comply, Compete or Innovate? A PSD2 strategy | KPMG | NL
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PSD2 Strategy: Comply, Compete or Innovate

Comply, Compete or Innovate? A PSD2 strategy

Will the Payment Service Directive 2 (PSD2) become a game changer? With the permission of the account holder, licensed or registered third parties will get access to payment data. They are also able to initiate payments. Will banks keep their position or will third parties take over the customer contact?


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PSD2 strategie

Research in the Dutch market

KPMG did a sector wide research about the subject PSD2. Banks, Fintechs, retailers, payment processors and corporates cooperate in surveys and interviews. The survey has asked for:

  • The new opportunities that will arise with the introduction of PSD, expected competitors and corresponding risks;
  • The status to become compliant;
  • The implemented strategies that will be executed;
  • The use of standards and technologies to make data and paymentservices available;
  • How respondents will positions PSD2 in a broader context of Open Banking.

The results show that:

  • 87% of the respondents expect that one of the goals “Stimulating innovation” will be accomplished;
  • On the other hand, 73% of the respondents indicate that there are important privacy concerns;
  • 40% of the respondents say they expect competition of the so called bigtechs;
  • 80% of the respondents expect PSD2 will stimulate or accelerate a broader movement towards ‘open banking’.

There are many more aspects that will be treated in our publication



Respondents make different choices that we have been categorized in three different dimension;

1. Innovate
PSD2 fits within a larger movement to redefine and design the business and operation model

2. Compete
Make use of the possibilities of PSD2 and defend yourself against possible new entrants

3. Comply
Meet the legal requirements

The third dimension can also be a temporary strategy; 27% of the respondents indicate that they are following a wait-and-see implementation strategy.

If you want to know more, download our publication right now!


Martijn Berghuijs
Director | KPMG

Paul Koetsier
Senior Manager | KPMG

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