Finance Monthly April 2019 Edition

22 www.finance-monthly.com SPECIAL FEATURE - PSD2 Whoosh! That was it. The March 14th deadline for PSD2 - the date by which banks in Europe were required to implement facilities for third-party providers (TPPs) to test their functionality against a simulated bank environment - has just flown by. While most are aware of the upcoming September 14th deadline, which requires banks to have implemented dedicated APIs for third-party providers, the March deadline was much less well known, and many of the thousands of eligible banks in Europe will not have been compliant in time. Nick Caley, VP of Financial Services and Regulatory at ForgeRock says that while there are no formal penalties for those that did not meet the deadline, there will certainly be consequences that could have long-lasting commercial, technical and reputational effects. Read on to find out more about what to do if you’ve missed the deadline. MISSED THE LATEST PSD2 DEADLINE? HERE’S WHAT YOU NEED TO KNOW Nick Caley, VP of Financial Services and Regulatory at ForgeRock