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Customers trust banks and are reluctant to initiate payments through third parties.

Successful banks will need advanced threat and fraud detection capabilities, a multi-layered security approach and secure environment for digital transactions.

OF BRITISH CONSUMERS ONLY TRUST THEIR BANK WITH THEIR ACCOUNT INFORMATION WHEN SEEKING SERVICES LIKE A BETTER MORTGAGE RATE OR SAVINGS ACCOUNT. (1)

CONSUMERS OR FEWER SAID THEY WOULD TRUST ONLINE PAYMENT COMPANIES (10%), ONLINE RETAILERS (9%), AND SOCIAL MEDIA COMPANIES (3%) WITH THEIR ACCOUNT INFORMATION WHEN SEEKING THOSE SAME SERVICES. (1)

PSD2 encourages stronger customer protection from rising threats and online fraud.

Organizations need e�ective identity management, with real-time advanced data analytics, accurate risk assessment, and intelligence-based authentication methods.

Increased security

DATAPRIVACY

1 10IN

59%

The Revised Payment Service Directive (PSD2) enables banks to create new revenue streams by monetizing the data they possess, diversifying their o�ering, and creating stronger customer stickiness. In this era of open banking, organizations need to innovate, think di�erently and implement new business models to become an integral part of digital ecosystems, and consolidate their market position.

Alongside this, financial institutions are operating in an incredibly competitive environment where regulatory pressure to tackle fraud is increasing. However, if they approach the challenges of keeping up with technology and disruptive innovation, digitization, and datafication in a positive way, they can provide the foundation for competitive di�erentiation.

Open Banking& PSD2:Single standard for secure money management

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Build customer trust with the right vendor

Partnering with the right technology vendor will enable financial institutions to embrace open banking and build the right banking platform and business models to allow consumers and third parties to connect and interact with each other.

HID Global’s solutions for secure digital transactions enable organizations to mitigate risk, create safe environments for digitaltransactions, and build stronger customer stickiness and loyalty.

Going beyond compliance while embracing innovation to create customer value has never beenmore important.

Customers want convenient mobile banking, relevant and personalized experiences across channels, and they need to be protected even when they act unsafely.

USEREXPERIENCE