In light of recent legislative developments enabling open banking operations in several Southeast European financial markets, one of the highlight discussions at the 8th Annual SEE NPL + Finance Forum provided a comprehensive overview of the future transformation of the financial services market.
Experts Nikola Mehandžić, Slavoljub Đorđević, and Viktor Dimitrovski, discussed the advantages brought by the PSD2 directive, including innovative services, new market players, data security, and improved user experience.
One of the key takeaways from the discussion was that the partnership between banks and fintech companies will become the key driver of open banking development in Southeast Europe. Fintech innovations, brought by new market players and different business models, allow banks to expand their services and offer users more flexibility and personalized experiences. Banks, on the other hand, bring stability and security, creating the foundation for successful implementation of new technologies. This partnership is crucial for market improvement as it provides security for users, while simultaneously stimulating competition and innovations that will shape the future of the financial sector.
