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April 2018
New technologies, increased competition and a favourable regulatory environment are among the factors driving innovation across the financial services industry. Major banks and financial institutions are facing increasing competition from fintechs that offer flexible products through digital banking apps, as well as from tech firms that are also entering the sector.
In this article for Payments & Fintech Lawyer, Dr Andreas Fillmann provides insight into the opportunities presented by the revised Payment Services Directive and Open Banking for banks and the importance of application programming interfaces within this changing landscape.