Lenders and credit providers can significantly enhance their decision-making by leveraging PSD2 data. With real-time access to customers’ financial transactions, spending patterns, and cash flow insights, they can move beyond traditional credit scores to assess risk more accurately. This means faster approvals, reduced defaults, and more personalised loan offerings. By integrating PSD2 data, lenders can streamline processes, improve risk management, and offer smarter, data-driven lending solutions tailored to each applicant’s financial reality.

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E-commerce businesses and payment providers can enhance their checkout experience by leveraging PSD2 data. With real-time financial insights, they can enable faster, frictionless payments, reducing the need for manual data entry. PSD2 also enhances security through Strong Customer Authentication (SCA), minimising fraud and chargebacks. Additionally, access to account data allows for personalised payment options, such as instant bank transfers and tailored credit offerings, improving conversion rates and customer satisfaction.

Financial advisors can provide more accurate, personalised, and data-driven recommendations by leveraging PSD2 data. With real-time access to clients’ financial transactions, income streams, and spending habits, advisors can offer tailored budgeting, investment, and savings strategies. This holistic view enables proactive financial planning, early risk detection, and improved client engagement. By integrating PSD2 insights, advisors can move beyond estimates and assumptions, delivering smarter, more informed financial guidance.

Landlords and property managers can streamline tenant screening and improve risk assessment by leveraging PSD2 data. Real-time access to applicants’ income, spending patterns, and financial stability allows for faster, more accurate rental decisions—moving beyond traditional credit scores. This reduces the risk of late payments and defaults while enabling more flexible rental terms. Additionally, PSD2-powered insights can enhance rent collection processes with secure, automated payments, improving cash flow and operational efficiency.

Subscription-based services can enhance customer retention and payment efficiency by leveraging PSD2 data. With real-time financial insights, businesses can predict churn risk by identifying changes in spending behaviour and proactively engaging at-risk customers. PSD2 also enables seamless, secure direct bank payments, reducing failed transactions and reliance on credit cards. Additionally, personalised billing options and affordability assessments help tailor subscription plans, ensuring a smoother customer experience and improved revenue stability.

Insurance providers can leverage PSD2 data to refine risk assessment, personalise policies, and streamline payment processes. Real-time financial insights enable more accurate evaluations of a customer’s financial stability and spending behaviour, leading to tailored coverage and fairer pricing. PSD2 also facilitates seamless premium payments with secure, direct bank transactions, reducing payment failures and administrative costs. By integrating PSD2, insurers can improve underwriting precision, enhance fraud detection, and offer more flexible, data-driven insurance solutions.