Fintech Finance Interview: Robert McKay on PSD2 and the challenges facing fintechs

In this interview with Fintech Finance at Money20/20 Europe, Robert McKay, MD at Accuity, outlines the challenges facing fintechs and financial institutions alike in the wake of the second Payment Services Directive (PSD2).

As in his article, Bob McKay outlines the challenges facing both established players in this space, as well as newcomers. He details the greater choice now available for consumers as a consequence of the marriage between banks and fintechs while also emphasising the opportunities and possibilities now available to them.

While innovation from the fintech side will lead to greater customer reach for banks in areas that might previously have not been seen as appealing, there is always the element of risk and financial institutions can use their expertise in areas of regulations and frameworks to ensure that customers’ privacy is paramount.