PSD2 Compliance Complicates Data Management Like all European banks, this large organi­ zation works within the new open banking era. Open banking makes bank information available to third parties throughout the European Economic Area. It aims to optimize banking and give customers greater control over their financial data, which they can freely share with third parties by giving their specific consent. In turn, banks will be able to offer customers new, more personalized services. To secure open banking, all European banks must comply with the Payment Services Directive 2 (PSD2). This increases the security of online payments and makes banking more competitive, which benefits customers. It also gives customers the chance to control who has access to their accounts and h

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