The European Union’s Second Payment Services Directive (PSD2) signaled a new era of change and innovation in the financial services industry.Designed to make financial transactions more transparent, efficient and secure, the directive’s requirements help institutions satisfy increased consumer demand for smarter and more flexible banking options — without compromising security.But as these requirements have begun to be implemented and adapted to other geographies, confusion remains. Which institutions and transactions are subject to PSD2 requirements? What’s the best way to ensure compliance with those requirements? And how can institutions use the conceptual framework that underpins PSD2 to develop more compelling products and services?