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Development of an Unified Message Broker for Financial Applications in the Context of PSD2: Capitalizing from PSD2 Through Data Retrieval and Analysis
KTH, School of Information and Communication Technology (ICT).
2017 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

The EU has recently proposed a new directive called PSD2, which requires banks to define APIs to the systems, allowing third party providers to write financial applications and access customers’ data inside the banks, with the permission of the customer. PSD2 becomes effective on 18th of January 2018 and is expected to open up the market and remove the monopoly and ownership of customers from banks. As it is a directive, all countries inside the EU and countries covered by the European economic area such as Norway,Switzerland, Liechtenstein and Iceland are affected. The business opportunity, which arises due to the directive, is an opportunity to find a way to be able to take the initiative and possibly monetize from the caused situation.The report presents a qualitative approach to develop a proof of concept with the purpose to display how an actor can create a solution that acts as a source of information and performs analysis to come up with valuable insights of consumers’ behaviour. The insights gained from this master thesis, open up new paths for innovation and competition on the market between actors providing similar services.

Abstract [sv]

EU har nyligen publicerat ett nytt direktiv vid namn PSD2, som kräver att banker definierar ett API for deras system, ett API som ger tredjepartsutvecklar möjligheter att skapa finansiella applikationer och får tillgång till kunders information innuti bankens system, med kundes tillstånd. PSD2 träder i kraft från och med 18:e Januari 2018 och förväntas att öppna upp marknaden och upplösa det monopol och ägarskap banker har på sina kunder idag. I och med att det är ett direktiv, påverkar det alla länder inom EU och länder inom EUs ekonomiska gränser, så som Norge, Schweiz, Liechtenstein och Island. Affärsmöjligheten somöppnas på grund av direktivet, är en möjlighet att ta innitiativ och förhoppningsvis monetärisera från situationen.Rapporten presenterar en kvalitativ tillvägagång för att utveckla ett ”proof of concept”, med målet att visa hur en aktör kan skapa en lösning som agerar som källa för information och gör analyser på denna källa för att komma fram till värdefulla insikter om kunders beteende. Rapporten öppnar upp för nya vägar för innovation och konkurrans på marknaden mellan aktörer som tillhandahåller liknande tjänster.

Place, publisher, year, edition, pages
2017. , 55 p.
Series
TRITA-ICT-EX, 2017:100
Keyword [en]
PSD2, GDPR, RESTful webservice, Spark, Data Analysis, fintech
Keyword [sv]
PSD2, GDPR, RESTful webservice, Spark, Data Analysis, fintech
National Category
Computer and Information Science
Identifiers
URN: urn:nbn:se:kth:diva-210745OAI: oai:DiVA.org:kth-210745DiVA: diva2:1119581
Subject / course
Computer Science
Educational program
Master of Science - Software Engineering of Distributed Systems
Supervisors
Examiners
Available from: 2017-07-04 Created: 2017-07-04 Last updated: 2017-07-04Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
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