Although we know from experience that bringing in new regulations may sound daunting to many insurance companies, they occasionally also bring business opportunities.
The payments market is evolving rapidly partly driven by the revised EU Payment Services Directive (PSD2) that will be put into place to bring more competition, innovation, transparency and security to the EU payment market. For insurance companies in particular the opportunity lies in new insurance product development for FinTech companies. Read here how Innopay and Van Doorne provide strategic insights into how PSD2 provides business opportunities that could contribute to top-level growth of your insurance company.
Please also note that on 22 September 2016, the European Banking Authority (EBA) launched a consultation on its draft Guidelines on the criteria the relevant regulators should consider when stipulating the minimum monetary amount of the professional indemnity insurance (PII) or comparable guarantee for payment initiation and account information service providers under PSD2.