With the increase in the cost of living, more and more people are finding themselves closer to the poverty line and are demanding better tools to help them manage their finances.
The introduction of PSD2 means that many new offerings exist that are focused on helping customers manage their money better. These companies are gaining a clear competitive advantage in the market thanks to directly addressing the problem for their customers.
With the macro trend of increased living costs, and better services offered to help people with money management, it is essential for all banks to make these capabilities a commodity. And who is in a better position than a bank to offer this capability?