What does PSD2 mean?
PSD2 stands for the revised European Directive on Payment Services (Payment Services Directive 2). This law came into force to stimulate innovation and competition in the financial sector while simultaneously increasing the security of online payments.
The most important thing for consumers is that PSD2 requires banks to share payment account data (such as transaction history) with recognized and regulated parties, such as RISK, under strict rules and only with explicit consent.
In short
The consumer remains in the lead for sharing bank data.
What services can RISK provide?
With your consent, we gain the opportunity to securely, transparently, and ethically access your bank details.
Especially the information about your fixed costs and expenditures provides us with valuable insights.
Active Financial Insight
We translate raw data into clear insights, thereby providing an understanding of consumer spending patterns.
Automatic Savings Alerts
We automatically detect excessively high fixed costs for example:
Energy contracts;
Insurance (car, household etc.);
Internet, TV and telephone subscriptions.
With our service, we detect when a consumer is paying too much. With this information, we provide services to come up with a concrete savings proposal.
Trigger based on lifetime events
We detect changes in consumers' personal situations through transaction patterns and activate targeted triggers to proactively inform them about their financial products.
Harmen Vollmuller
Commercial Director
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