The PSD2 directive is likely to lead to significant changes in the financial services market towards open banking. The new regulations may change not only the habits of Polish consumers, but also the structure of the entire market. According to 41% of bank representatives in the first year after the implementation of PSD2, their main competition will be other banks, but in the next 3 years banks are most afraid of competition from technology companies (32%) and the so-called GAFA (Google, Apple, Facebook, Amazon) - 53%.
The report “PSD2 and Open Banking. Revolution or evolution"; prepared by KPMG in cooperation with the Polish Bank Association. Its aim was to examine how banks, cooperative banks and non-bank entities perceive regulatory change in Poland. The survey also covered customers without whom the idea of open banking would be pointless. The consumer survey was conducted on a sample of 1210 respondents using the CATI (Computer Assisted Telephone Interview) method in December 2018. The second part of the survey, conducted among banks, cooperative banks and companies from the non-banking sector, covered 73 people. Nearly half of them work in banks, 22% were employed in cooperative banks and 31% in organisations belonging to the TPP group (e. g. payment institutions and fintechs).