Miroslav Vichev: It is early to think that someone can displace the banks
This is what the Chief Executive Officer of BORICA shared in a video interview for economy.bg regarding the new PSD2 payments directive of the EU.
The revised PSD2 payments directive of the EU came into force on 13 January 2018. It launched the so-called "Open Banking". The directive enables fintex companies to access clients' bank accounts with their explicit consent. Through it, independent third parties registered with the BNB will be able to provide access of end-users to electronic payment instruments of the banks.
You can learn from the interview with Miroslav Vichev on the web site of the economy.bg how will this affect the financial sector in Bulgaria and what will be the benefits and risks for the banks and their clients.
