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NEW LINK INSIGHT

Summary of the proposal for Payment Service Directive 3 (PSD3)

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Specific changes introduced by PSD3

Next steps for financial service firms providing payments services

Understand the requirements of PSD3

The full text of the directive is not yet available, but the European Commission has published a draft proposal, which provides a good starting point for understanding the requirements of PSD3.

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Start planning for compliance

PSD3 is a complex piece of legislation, and compliance will require significant effort. Financial services firms should start planning for compliance now, so that they are ready when the directive comes into force.

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Consider using a trusted change management consultant

A practitioner led change management consultant, such as New Link Consulting, can help financial services to understand the practical requirements of PSD3, develop an compliance plan, and support the delivery of changes required to comply with the directive.

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