Goede Dag Readers,

I’m fresh off of a red eye into Amsterdam followed by several interesting meetings. You’ll have to excuse me if my typing seems off, I’m really starting to feel the 46,000 km that I have travelled on this trip. Actually, but the time you read this I probably have been home for a while as I am lagging behind with these blog posts.

So, what can I say about Amsterdam? It has really become a global hub for innovation across many industries over the past 20 years. The Netherlands has the 5th largest financial services market in Europe, making it prime real estate for banking innovation. Given these factors, it has become a leading fintech power in the region with over 350 dutch start ups in 2015. Even the government is getting involved, with the Minister of Finance encouraging Parliament to work towards an environment that continually encourages fintech innovation. Even our own Prince, Constantijn Van Oranje-Nassau, is running a support program for a Dutch start/scaleup ecosystem called StartupDelta.

Moven has been having many interesting conversations in the Netherlands and this trip was no exception. I have noticed all Dutch banks are preparing for the upcoming PSD2 directive, which will be in effect as of this January. PSD2 will significantly change the payments landscape, the use of customer information, what business models are profitable, and customer expectations. Through this directive, the EC wants to improve innovation, strengthen consumer protection and improve the security of internet payments and account access within the European Union and EEA. It also marks the introduction of two new types of players to the financial landscape: AISP and PISP.