What is the PSD2?

PSD2 stands for “Payment Services Directive 2”, an EU-wide directive which is intended to promote innovation in the financial sector while at the same time setting new security standards in banking. The central intention of the PSD2 is that third-party providers, such as finleap connect, can access bank data and initiate payments with the user’s consent. In return, these new providers are strictly supervised and require a license from the financial supervisory authority before they can start operating. finleap connect received the license in August 2018.