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Transforming psd2 from a threat into an opportunity for Nordea

Lilleberg, Håkon; Svendsen, Christian Slåen; Skaiaa, Sebastian Kleppe
Bachelor thesis
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http://hdl.handle.net/11250/2467261
Date
2017
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Abstract
The revised payment services directive (PSD2) is a disruptive piece of legislation

set to remove incumbent banks monopoly on customer account information and

payment services. Along with the EU’s General Data Protection Regulation,

PSD2 compels banks to make much of their valuable data shareable with

designated third parties, allowing new players to enter the market.

The main objective of this papers is to shed light on how the directive affects

Nordea Bank from a strategic perspective. The specific research questions the

study addresses are what the implications of PSD2 are for Nordea, and what

strategy Nordea should pursue to maintain a sustainable competitive advantage.

In our largely qualitative research, we gathered primary source information from

legislative drafts, an interview with a Nordea-spokesperson, and from official

statements by Nordea. Secondary sources like industry white-papers and strategic

management literature were also extensively used.

To tackle the research questions the study considers the implications of PSD2 for

Nordea, conducts an external and internal analysis of the company regarding

PSD2, and explores strategic options Nordea can pursue to respond to the new

directive. The analysis results in three strategic options; Defensive, Opportunistic

and Transformative. The key differentiating point between these is the degree of

commitment to Open Banking, Defensive being full rejection and Transformative

being full commitment, Opportunistic falling somewhere in the middle. These

strategic options are in turn evaluated based on certain criteria. We dismiss the

Defensive approach, as we believe a full rejection of Open Banking would cause

Nordea to quickly fall behind its present and incoming competitors. Taking into

consideration long-term sustainability, a changing competitive landscape, and the

companies capabilities and resource
Description
Bacheloroppgave i Økonomi og administrasjon fra Handelshøyskolen BI, 2017
Publisher
Handelshøyskolen BI

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