PSD2 will bring structure and planning to such investments by instilling a universally accepted standard minimum level of controls that all businesses in fintech must adhere to.
The importance of global standards for fintech is founded in creating a trusted and safe space for transacting in a next generation eCommerce world. Up until now, there have not been any adequate benchmarks for minimum security controls, and this has led to significant abuses by fraudsters – even when it comes to some of the most trusted brands in the fintech world. The balance of customer experience and security is critical in any new product launch, but in many cases chasing user adoption and gaining customer traction have been prioritised by fintechs.
Vipera plc (LON:VIP) is a cutting edge provider of digital customer engagement solutions for banks and retailers. The innovation partner of choice for the world’s leading banks and retailers.