A review of PSD2 under open banking concept and its impact on the PayTech sector development. A qualitative study in the CEE ecosystem.

Ciolacu Gabriela (2021) A review of PSD2 under open banking concept and its impact on the PayTech sector development. A qualitative study in the CEE ecosystem. Külkereskedelmi Kar.

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Absztrakt (kivonat)

Before the 2000s, the banking ecosystem in the European Union resembled a 17th century Japanese economy - a proverbial analogy of a protectionist, closed-border economy that had few outside contacts with external rivals and that integrated the whole value chain into one industrial player.This approach to banking as a whole proved to be redundant and discouraging for innovation, as it impeded new competitors or disruptors to enter the payment market.Therefore, banking regulators have decided to shift their approach from a conservative Japanese economy to the model of the Dutch East India Company - a company so big that it succeeded to reach all the continents, thus, bringing creative disruption to Europe.In the light of the innovation and competition policies, the acceleration of numerous R&D projects and the regulators’ pressure on the banking infrastructure, an “open banking” concept has been introduced. The EU, together with a separate initiative from UK, have forced the banks to open up their account information to Third Part Providers (TTPs), thus contributing to the unbundling of the value chain. Therefore, Payment Service Directive 2 (PSD2) was introduced on supranational level in 2016 and incorporated on national level in 2018, thus replacing the previous directive.Taking into account the ongoing financial system changes, the study follows to answer to the following research questions with regards to the impact of PSD2 on the PayTech sector development:” How does the open banking concept under PSD2 impact the fate and the business dynamics of the PayTech sector development with a specific focus on CEE region?”. Therefore, due to the novelty of the subject, the mixed research approach would fit the subject better as it combines feedback collection (qualitative) and statistical description of the current situation. The trends will also be explained through a descriptive statistical analysis and in-depth interview with 5 local CEE players that particularly benefit from PSD2.In the 19th century, the decision to open up the Japanese economy certainly came at a cost as it utterly changed the preserved norms of the previous conservative system. Now, we speak of Japan as a leading economic power. Despite how unwelcoming open banking might seem for several players, PSD2 comes as an alternative solution that forces the orthodox banking infrastructure to open up its doors, by opening up to additional vulnerability, data sharing risks but also to new business models.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Külkereskedelmi Kar

Tanszék

Nemzetközi Gazdaságtan Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Nemzetközi gazdálkodás

Konzulens(ek)

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	banki szolgáltatás(ok), CEE, Közép- Kelet Európa, ökoszisztéma, PayTech, PSD2
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2021. Már. 01. 12:59
Utolsó módosítás:	2021. Szep. 21. 11:31

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