PSD2 explained in 4 minutes - What you need to know about the

[@chandlerphelps5608]

Nice video, but I found the constant popping noises distracting

[@Digitalscoutingde]

Thanks for letting us know. We are reducing them in the new videos

[@Digitalscoutingde]

We changed it for all future videos. Thanks for letting us know.

[@adityapaliwal89]

I totally agree with you, should have been simple

[@kristen6800]

Thank you for making my drudge through research a bit more enjoyable lol :D Funny, informative and to the point. Keep up the good work!

[@Digitalscoutingde]

Thank you so much. Psd2 can be fun...

[@barisdnmz]

thanks for open banking, but what is psd2 then?

[@mistyronin]

So if I understood properly (probably not). If any app adds in its 200-page conditions a clause that includes you sharing the transactional data with them? Meaning they can actually know everything about your transactional data.

[@Digitalscoutingde]

It not so easy, they would need to ask you for your pin and access. So no one without your knowledge could enter your data.

[@mistyronin]

@@Digitalscoutingde Oh, ok. That gives at least some security. Although I'm not sure if I like the measure. On paper sounds good, but I'm a bit afraid of possible scams or abuses. In any case, I really appreciate your info. Great work!

[@Digitalscoutingde]

@@mistyronin the idea of the European Commission was not to enable scams but actually enable new services to customers that help them with their finances. Because banks have not done a good job with that

[@biplabroy8991]

Thanks for the video. Good to know about the Orthodox Capitalist's view on PSD2 👍

[@davidersingh8130]

Nice and short explanation about the PSD2 and banking. Recently a lot of new TPP flourished all over the market. Some of such a payment providers are better and some of them requires some development. Here are some which I use personally. ( Stripes, G2A Pay or Klarna)

[@Digitalscoutingde]

Thanks for sharing.

[@theufobro1665]

Dude , you just helped me with a final stage interview question. I owe you a beer

[@First.Last.99]

Because PSD2 I need to confirm all my purchases online with extra step? (the most idiotic thing ever) same like GDPR killed the web browsing experience and closed many website from US to EU

[@LeetKrew090]

You are that kind of person that will cry if your credit card get stolen and missused. PSD 2 trys to prevent this

[@First.Last.99]

@@LeetKrew090 there are better way to do it

[@nathaniel8422]

as far as I know they are not opening customer data , they are just allowing debiting of account.

[@Digitalscoutingde]

Hi Robert Thanks for your reply. PSD2 forces banks to give third parties access to transactional data of cash accounts. Depots are not yet regulated. All under the condition that the customer agrees.

[@Mixalison]

Great Video What software was used?

[@Digitalscoutingde]

We used wevideo at the beginning but not anymore

[@undefined6341]

Why the hell would someone want their transactional data to be accessed by third parties??? It's extremely sensitive information that should not be toyed around with.

[@Digitalscoutingde]

Thanks for your comment. Well, the same could be said about communication data that billions of people give to the tech giants without hesitation. As soon as companies develop digital products and services that provide value to the customer, people will use this service.

[@oskars4002]

To get access to better services, tailored offerings, more profitable financial products and other advantages. Plus none of that is mandatory - data is given to third parties only with the consent of the consumer.

[@hometechUK]

Nice hopefully Google Pay will be more useful & display all transactions & current balance.

[@Digitalscoutingde]

And catetorization of income and spending...

[@Adrian79E]

The video looks good but the constant "ding" sounds are EXTREMELY annoying and make it unwatchable for me after less than 3 minutes. I would reccommend for your next video to remove them or at least lower their volume below your voice volume.

[@Digitalscoutingde]

In all new videos we have not used the sounds. Feel free to check out all yellow or blue thumbnails

[@icecubesdaughter]

#Chainlink

[@bardos]

Still no idea wtf this is

[@Digitalscoutingde]

Psd2 is the open banking initiative of the European union forcing banks to open some of their data to third parties. Hope that helped.

[@bardos]

@@Digitalscoutingde what i do not understand is how this affects me personally when i make transfers

[@Digitalscoutingde]

@@bardos not at all at the beginning. But third parties can provide you new services and app to help you manage your money and build wealth. I think banking will be a lot different in 5 years - for everybody.