Tiago Correia Moreira, managing associate of the Banking & Finance practice, and Helena Correia Mendonça, principal consultant of the Information, Communication & Technology practice, were interviewed by the Jornal Económico for an article on the emergence of diverse FinTechs and the impact technological innovation is having on the banking sector and traditional financial system.

In the context of the technological development of the financial system, which is clearly visible in the field of payment services, the VdA lawyers clarify the transposition of the PSD2, which arises from the need for a safer, more innovative and competitive single market for payment services.

In Tiago Correia Moreira’s opinion, “the evolution of payment services was too rapid" and forced the Community legislator to legislate again, obliging the EU Member States to transpose the new Payment Services Directive 2 (PSD2).

Therefore, according to Helena Correia Mendonça, the Directive “extended regulatory obligations to operators, which were not previously subject to these rules.”

You may read the complete articles here:

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