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Increasing Security Within PSD2

It can be quite tricky to increase security and at the same time make sure there is still competition between banks and FinTechs and that customer experience is as seamless as possible.

With new regulations coming how are we standing with PSD2?

The goals of the second payment service directive are diverse. On the one side competition between banks and fintechs should be encouraged, on the other side security of electronic payments should be increased to avoid fraud. Open banking forced banks to think about API concepts to share data with third-parties. The dialogue between banks and banking service providers is ongoing ever since. Customers can expect meaningful services, like aggregating all bank accounts and use more personalized services based on the full bandwith of banking services. Referring to the 2nd goal of PSD2 to increase security customers will often experience a limited user experience. By introducing a second factor banks need to offer creative solutions in order to support banking and e-commerce shopping.


Thomas Winandy is Head of Mobile Banking at Commerzbank. Commerzbank has 8 million private banking customers in Germany and offers 1.000 branches. In his role he is responsible for developing the Mobile Banking App strategy, within Commerzbank’s Multichannel approach. He is leading a team of 30 specialists in Frankfurt and Berlin, developing the mobile banking app. The app reached highest app store ratings and 44% growth of active app users during last year. Thomas Winandy brings 14 years of experience as self-employed digital consultant and was employed with Targobank (former Citibank) and Barclaycard Barclays Bank before he joined Commerzbank in 2017. Besides his work, he is a keynote speaker and sharing his digital banking vision with other banks and fintechs at global conferences.

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