Western Union continues its work to launch a digital multi-currency bank account pilot in Europe – and compliance with the EU’s Payment Services Directive 2 (PSD2) is a key part of the project. PSD2 is an EU directive designed to produce safer and more innovative payments services.
To ensure PSD2 compliance Western Union teamed up with Salt Edge, a pioneer in open banking to integrate its solution into the pilot. Salt Edge’s solution will enable Western Union to extend the relationship with its customers and create a new banking experience.
Becoming compliant with PSD2 means much more than fulfilling legal requirements. By turning to Salt Edge’s solution, Western Union is leveraging PSD2 possibilities for its customers, making innovation more secure. In the end, the final user enjoys an upgraded customer experience, using the new multi-currency bank account service.
“With plans underway to launch a Western Union digital bank pilot in Europe, being PSD2 compliant is critical to our success and enabling our products. It will allow us to offer customers a superior experience as we look to expand our service portfolio. Our collaboration with Salt Edge will allow us to meet these goals, based on the team’s focus on innovation and agility, and great experience in providing market-leading solutions,” said Thomas Mazzaferro, Chief Data Officer for Western Union.
