A new report from Capgemini and BNP Paribas highlights the countries that are leading the charge and allowing new market entrants to compete with existing banking service providers.
What’s striking is how - even with regulatory initiatives such as PSD2 seeking to harmonise payment services across the EU - there’s a stark divide in member states’ open banking readiness and potential.
This shows how much is down to the specifics of each individual market.
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the development of the new payments landscape will not depend solely on bank-led initiatives; the financial services community, including public sector organizations, regulators, and third parties must also work with each other as well as their corporate clients to develop this ecosystem