Financial Services Ireland


Payment Service Directive II: Key challenges and opportunities

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What do you need to know about the Payment Service Directive II?

We believe Payment Service Directive II (PSD II) will have a profound effect on the industry. But there are still unknowns and banks need to be asking themselves some key questions to ensure they’re prepared to meet the challenges with the PSD II deadline in January 2018.

Key Questions

  • How can data be leveraged as an asset class?
  • What partnerships should be pursued?
  • How will PSD II interact with adjacent initiatives?
  • How should regulation be interpreted?
  • What operational and technological changes are required for compliance?
  • How can we protect new APIs from cyber attack?
  • What new security vulnerabilities will the bank and its customers be exposed to?
  • How should guidance on customer consent and data controller requirements be interpreted?
  • How will liability be managed?

EY’s payments, FinTech, cyber and regulatory teams have extensive experience supporting client delivery programmes to meet the complex demands of ongoing regulatory change and managing customer expectations. If you have any queries or issues relating to PSD2, please don’t hesitate to get in touch with me, or your usual EY contact.


Colin Ryan

Ireland Financial Services Country Leader
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