An advisory proposal by DLA Piper Finland and Samlink
With PSD3 and PSR, the European Commission seeks to modernize payment services, enhance consumer protection, bolster trust and security against emerging threats, and increase competition in the field of electronic payments. In partnership with Samlink, we have developed an advisory package that provides banks advisory with an assessment of the impact of PSD3 on banking and payments based on legal, risk and IT analysis.
The EU's electronic payments market has grown significantly in recent years. Since the implementation of the Second Payment Services Directive (PSD2) in 2018, the volume of electronic payments has increased substantially, and the digitalization of financial services has advanced rapidly. In response to this development, the European Commission presented proposals on 28 June 2023 for a Third Payment Services Directive (PSD3) and a new Payment Services Regulation (PSR), aimed at further strengthening the foundation established by the previous payment services directives. Most of PSD2 will now be incorporated into the Payment Services Regulation, facilitating regulatory harmonization across member states.
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Description & deliverable
- A dedicated team of Senior Banking Advisors from Samlink and legal counsel from DLA Piper help the Bank to interpret and understand what is the impact of PSD3.
- The advisory assessment consists of two workshops, tailored reports and a management presentation including recommendations.
Benefits
- Interpretations of the directive, regulation and what it means concretely for the Bank´s future business, compliance, risks, security and IT environment.
- Understanding of the short- and long-term impacts by topics of interest selected by the Bank.
- Alignments on strategic topics.
- A look at opportunities for the Bank and high-level guidance for next steps.
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