„Options for PSD2 implementation“

Optionen zur PSD2 Umsetzung

„Options for PSD2 implementation“


Although in force since January of this year, in the eyes of many PSD2 will only become really relevant and complex with the final entry into force of the RTS (Regulatory Technical Standards for PSD2) on 14th September 2019.

In addition to Strong Customer Authentication (this is worth a separate contribution…), the RTS will above all, but not only, lay the regulatory basis for the much, and in part hotly, debated services „Payment Initiation Services“ (PIS) and „Account Information Services“ (AIS) newly created by PSD2. PIS stands for a payment initiation service such as Klarna already offers with SOFORT. AIS means an account information service such as is already available, for example, as part of Deutsche Bank‘s multibanking service. Examples already show that PSD2 does not enable new, revolutionary services, but rather regulates existing activities (with the consequence that companies operating in this area now require a regulatory license) and obliges banks to provide access to their customers‘ accounts according to defined rules.

Now it is correct that due to PSD2 the competition for a customer burns more strongly than before; besides the established players, the banks and savings banks, other enterprises are competing more and more frequently – in the PSD2 context these are the so-called Third Party Provider (TPP) – to gain the favour of the customers. However, unlike the usual one, this distribution battle is not about better conditions for individual products, but about the big picture – the customer himself. Whoever succeeds in making a convincing offer in the sense of user experience will represent the front end for the customer and thus become the access for this customer to the banking offers (regardless of which bank). And those who occupy the front end will ultimately also be able to influence the services and products offered and thus have a correspondingly larger share of the added value.

So at least the general theory…

As a result, it is insufficient for banks and savings banks to implement the requirements of the PSD2 RTS in order to be „compliant“. Rather, either defence mechanisms must be developed from these in order to be affected as little as possible by the TPP, or strategies must be devised as to when an institute can benefit from the regulations of PSD2. Defensive mechanisms will not work, since customers of a bank or savings bank cannot now be persuaded that SOFORT or PayPal are „evil“. On the contrary, customers use these services unremitingly because they have advantages over their own bank‘s services. As a sensible answer that remains to PSD2, is therefore, a progressive handling of this and, for example, a positioning of the institution as a central interface to the customer‘s banking and thus also to the customer‘s accounts with other banks. In fact, this does not require a TPP; a bank or savings bank can also offer this directly to its customers. Deutsche Bank, for example, will certainly and consistently expand its multibanking offer, which is currently only an account information service, to include the possibility of triggering payments at other institutions. Deutsche Bank customers would be able to manage all their payment transaction accounts without having to log into online banking at other institutions.

Consequently, not only in Germany but all over Europe the consulting companies are chasing after their (target) clients, by the way we, too, from OSTHAVEN, and spreading the message that the houses have to position themselves according to PSD2 and design offers in order to represent the central front end of the client for banking even after 14/09/2019 and not lose this to a TPP or another bank. PSD2 represents the end game around the clients for all banks and savings banks, if necessary.

For everyone? No, at this point we expressly disagree! Not with regard to the requirement that all banks that maintain „payment transaction accounts“ (here the market still lacks a clear definition) must have implemented the requirements of the RTS by 14th September 2019. But we are of the opinion that the PSD2 is not strategically relevant for all banks beyond compliance. It is undisputed that retail banks and banks with a high proportion of retail customers and a focus on checking transactions will be massively affected by the PSD2, but in return strategic advantages can also be drawn from the rules and regulations. In addition to retail banks, there are also many institutions that will not be able to benefit spontaneously from the implementation of PSD2 or will not experience any direct competitive disadvantages. We include banks here that are active exclusively in corporate banking. Triggering payments plays hardly any role for these customers and multibanking is already a reality thanks to the use of software. Even banks that focus on financing and deposit products can only benefit from the PSD2 with a lot of imagination. We could go on… It should become clear that the establishment of ecosystems or the convergence of banking and non-banking based on PSD2 rules is not meaningful or necessary for all banks. We consultants also have to operate with a sense of proportion here.


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„The Future in Banking & Payment“

Startpage Slider - Pay with your tongue!

„The Future in Banking & Payment“


Trends come and go – this also applies to payment transactions. The drivers of innovation are often technological progress, regulations, costs and the customer. But what are the latest developments and research in this area? An OSTHAVEN perspective on the future in banking and payment.

Now, be honest, how many different passwords do you actually use for your everyday business? Studies have shown that a typical behaviour for users, on many devices, Internet portals or even online banking, is to use the same password. The human brain likes it easy and is lazy. So, the name of grandmother’s dog in connection with the own landline phone number as a password is very tempting. The risk of misuse of this password, however, is very high. A big trend is starting right here, and using new technologies, it is looking for ways to measure or identify the biological uniqueness of people and thereby enable a secure recognition. The science behind it is biometrics. First solutions have long since spread into everyday life. Unlocking a smartphone via a fingerprint has made it unnecessary for years to enter a code or password. In the meantime, entire payment transactions are triggered by means of a fingerprint. Apple has determined an error rate of 1:50,000 in the process of the Touch ID (apple.de). With the birth of the new generation of smartphones, face recognition has become socially acceptable and works very well. With the Face ID the error rate of 1:1,000,000 on devices with an apple in the logo is still clearly below the rate of Touch ID. The appearance of the mouth, nose, eyes and ears as well as the individual head shape and other features are unmistakable in combination and are ideal for authenticating. In addition to the techniques and procedures that have already appeared in everyday life, there are other possibilities that once sounded like science fiction but have now arrived in the midst of reality. In the search for distinctive human biometric features, a person‘s voice is as unique as its appearance. Barclays Bank has recognised this fact for itself. Customers can register via a voice scan. As soon as a customer‘s voice can be heard in the call centre, it is automatically identified based on numerous voice characteristics. The method of voice identification pays attention to another trend in the field of payment and banking. We are talking about „Voice Banking“. Since Amazon’s Alexa, Apple‘s Siri and other digital assistance systems have spread out in the living room and have simplified many things of everyday life, the desire of customers is to manage their bank account by voice and make payments almost by tongue.

Payment by „laying on of hands“ is also no longer a utopia. Another method that can be used for payment procedures is the so-called vein scan. Customers of the British supermarket chain, Costcutter, can pay for their purchases with this new biometric procedure. The vein pattern of their fingers is scanned and connected to the bank data. At the supermarket checkout, the stored data is then compared with the scan data. The customer actually pays by a „laying on of hands“.

OSTHAVEN is convinced that biometrics will become an increasingly important topic in banking and payment transactions. The new authentication methods especially impress with their high security factor and convincing practicability in everyday life. Another trend in payment and banking is Artificial Intelligence (AI). This is known by many as the „new industrial revolution“. AI does not stop at the financial sector. Since banking is more about services than about a physical product, and personnel is a significant cost factor, it makes sense to use artificial intelligence to automate processes more. Thus, in the past few years the Chatbot service has been introduced in direct customer contact in many houses. With the help of a good AI solution, the majority of customer inquiries can be answered directly around the clock, without human interaction. For banks there is a huge savings potential and more opportunities to increase customer satisfaction. However, AI is not only used in customer interfaces, but also in sales analysis. AI in combination with big data enables a customer to analyse and evaluate his data in a matter of seconds. In addition, we see possible applications of AI in fraud prevention or individual product recommendation based on the comprehensive analysis of customers‘ financial position. Especially in the financial industry there is a wide range of applications.

It is obvious that there are many parallel technical developments in all areas of human life. The potential benefits and theoretical applications seem to be unlimited. In addition to individual innovations and the use of different devices in the daily lives of users, the networking of these different technologies will become increasingly important in the future. The Internet of Things describes the rapid growth of Internet-connected, intelligent devices. The networking of physical and virtual objects is in the foreground. In the target vision, these objects should work seamlessly together through information and communication

technologies. There will be completely new application scenarios for payment transactions in the future. Imagine that every networked device can be used for cash transactions and thus become its own, individual Point of Sale. It is conceivable that garage parking and toll fees and petrol station tab could be paid contactless by means of „Connected Car“. The driver can stay comfortably in the car and save himself the trip to the cash register or to the ticket machine. What happens in this case with the petrol station shop sales? Car manufacturers, however, go one step further and change their business model by offering custom features, accessories and digital services in the connected car as „pay-as-you-go“ services. The resulting opportunities for car manufacturers are enormous and also the benefits of cost reductions and efficiency gains in production.

OSTHAVEN sees the increased customer requirements for the most secure but noiseless authentication as an opportunity to drive forward the bank‘s own digital payment solutions. In the context of new technical developments such as AI and regulatory framework conditions such as the PSD II, which encourage the design of new products, innovative forces can be released from traditional players on the market. What all approaches have in common, however, is the fact that the „customer“ and his needs for simplicity remain as the foci of interest and are drivers or obstacles to possible developments.


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Ralf Hesse




Ralf has a university degree in mathematics with a minor in computer science.


At an early stage, he focused on systems and IT infrastructures in payment and acquiring and held various management positions in the payment industry.


Among others, he was a consultant and project manager at Pago eTransaction Services and head of acquiring at KPS Payment, which provides services for Eventim AG.

Ralf Hesse - Manager bei OSTHAVEN

The description “small but nice” describes our consulting boutique in a short but concise style. A team of internationally experienced employees that not only enriches with above-average specialist knowledge but also fosters team spirit with equal importance is both support and incentive for me to master the challenges of everyday working life. We not only follow the constantly changing demands of the market, we also try with foresight to master developing requirements/challenges with our clients. But only those who feel comfortable are successful – and OSTHAVEN as a team hits the spot.

Dirk Brunke


Managing Partner


Dirk Brunke started his professional career as a software developer and head of a software development department with an apprenticeship as a data processing salesman and a degree in business informatics. Since 2000 he has been active in various areas of the payments industry. His focus was particularly on e-commerce and e-payment.


In 2008, Dirk Brunke joined Ingenico Payment Services (formerly easycash GmbH), the market leader for card-based payment in Germany. There he first built up the acquiring business. Later, his responsibilities expanded to include marketing, products and services, and market policy. Since 2013, he has also headed the product management of the parent company ingenico for the Europe region and supported the Marketing division..


Through his activities as a project manager and in various other management positions, Dirk has extensive experience in payment transactions in the areas of product management, compliance risk and operations. Effective management in multinational companies and his strong implementation strength complement his CV.

Dirk Brunke- Managing Partner bei OSTHAVEN 2

Knowing what it’s all about – that was the key point in our first considerations to establish a management consultancy with payment and banking experts in the market. We want to accompany changes characterized by regulation, consolidation and innovation. This is achieved through tried-and-tested and market-experienced employees who, with their methodology and professionalism, immediately generate real added value directly for our clients. In our view, this is inextricably linked to the well-being of our employees – a respectful and transparent approach is a basic requirement to deliver powerful results. This includes well-founded discussions as well as a modicum of fun. Spirit of discovery, willingness to change and a sense of responsibility are elementary building blocks of our philosophy. Making decisions and implementing them – this is what our employees and we stand for.

Tim Danker


Senior Consultant


Tim completed his dual studies at the FH Nordakademie Elmshorn and worked for Hapag-Lloyd AG during this time.


He subsequently worked as IT project manager and IT system analyst at Hapag and completed his Master of Science in Business Informatics at the Nordakademie Graduate School while working.


Before joining OSTHAVEN as Senior Consultant, he was Lead Consultant at Capgemini Germany.

Tim Danker - Senior Consultant bei OSTHAVEN 2

Like most of the employees of OSTHAVEN, I first worked in a large corporation and later in a major international consultancy. There I enjoyed a great professional training, but also got to know about rigid structures and endless decision paths. Even before my first day at OSTHAVEN I knew all employees personally and everyone knew me; who I am and what I can do. At OSTHAVEN you are not just an employee, you are part of the company, part of the team. Everyone participates in the further development of the company, the client base and the solution portfolio – and every idea is welcome.

Juan Félix Manzano Vela


Managing Partner


Having trained as a banker and studying economics (Dipl.-Kaufmann) with a focus on European corporate governance, Juan Félix Manzano Vela has worked in the financial services sector for 20 years.


After more than 5 years as a management consultant at KPMG Consulting / BearingPoint, he held positions of responsibility as well as management with payment service providers and Deutsche Börse AG. Prior to founding OSTHAVEN GmbH, he most recently served as Head of Business Development & Market Policy at Ingenico Payment Services (formerly easycash GmbH).


Juan Félix has been responsible for large and complex projects in the areas of banks, stock exchanges and payments. The background and focus of his activities include: development and implementation of corporate and marketing strategies, business development, strategic planning, M & A, organizational development and project management in the areas of financial services, electronic card payment and payment services as well as credit and debit card acceptance.


What drove us from the very beginning was our passion to accompany changes in banking and payment and to achieve value-added results for our clients with our many years of experience. We have combined entrepreneurial thinking and action with our expert knowledge of operational processes in practice. “From Strategy to Execution” is therefore not just a slogan but part of our corporate DNA.
And it is precisely our employees who have the entrepreneurial freedom to create benefits for our clients and have a high level of performance motivation in the projects, but at the same time feel responsible for the further development of OSTHAVEN. That is why our employees are at the centre of our corporate responsibility and our capital, which we make available to our customers, is in their minds.