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With the Payment Services Directive 2 entering force, financial institutions and aspiring third party providers need to plan for technological transformation. Changing customer behavior and general expectations around the increased use of digital channels also make the need for changes even more pressing. PSD2 players need to act now and be at the top of their technological transformation game.
The course of action each organization takes largely depends on the starting point and the end goal. Oracle has long legacy in the banking sector with 10 out of the top 10 banks leveraging Oracle solutions to run their business and innovate – and PSD2 is no exception.
Banking institutions will largely need to rethink their positioning in the market. Should a banking institution sit and wait or should it prepare to be “just-enough” compliant? Alternatively, should an organization really transform into a “bank as a platform” and drive an internal and external change towards becoming a truly digital player?
Contact Oracle today to find out how we can help you drive the PSD2 and Digital-led transformation into your organization no matter what approach you choose to take.
Aspiring Third Party Providers need to start planning their strategy and setting up a fresh technological ecosystem to capture the new markets to be created by PSD2.
Contact Oracle today to find out how we can help you get up and running at the speed of innovation.