Okta Inc. 301 Brannan Street, Suite 300 San Francisco, CA 94107 info@okta.com 1-888-722-7871 Implications Around PSD2 and Open Banking2 Implications Around PSD2 and Open Banking What Is PSD2 and Open Banking? Traditionally, banks and other financial institutions have held a monopoly over their customer’s account information and payment services. Many of these financial institutions have invested in digital innovation to provide modern experiences via their websites and mobile applications. However, for the most part, consumers don’t have a choice in how they can access their banking services. In contrast, if we look at email as an example, consumers have the flexibility to use their preferred client to read and send mail, such as browser clients (e.g. mail.google.com), email software

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