Job Swank: PSD2 - will it be a game-changer?

Speech by Mr Job Swank, Executive Director of the Netherlands Bank, at ESB's Conversation with Regulators on Innovation in Payment Services, The Hague, 18 January 2018.

Ladies and gentlemen, I'm grateful to the organizers of this conference for inviting me here. This Conversation with Regulators is the last in a series of events on innovation in payment services, organized by ESB. For those of you who can read Dutch, I highly recommend the dossier Innovatie in Betalen, issued by ESB in September. It has much more to offer than you will hear from me today.

Today's topic is PSD2. PSD2 is a European directive, to be implemented through national legislation. And PSD2 is about payments. To most people, these topics - legislation and payments - are extremely boring, a necessary evil. Probably not to you. Otherwise, you wouldn't be here, but you are certainly a minority.