What does PSD2 entail?
PSD2 stands for the revised European Payment Services Directive (Payment Services Directive 2). This law came into force to encourage innovation and competition in the financial sector while also increasing the security of online payments.
The most important point for consumers is that PSD2 obliges banks, under strict rules and only with explicit consent, to share payment account data (such as transaction history) with recognised and regulated parties, such as RISK.
In short
The consumer remains in the lead for sharing bank data.
Which services can RISK provide?
With your consent, we are able to securely, transparently and ethically access your bank details.
In particular, data about your fixed expenses and spending provide 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, for example:
Energy contracts;
Insurance policies (car, household contents, etc.);
Internet, TV and phone subscriptions.
With our service, we detect when a consumer is paying too much. Using this information, we offer services to provide 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.
