Here in the UK, and across Europe, banks are scrambling to be ready for the “Payment Services Directive” – also called PSD2.

In a nutshell, PSD2 opens up a bank’s platform via APIs to other data processors and merchants (with your explicit permission).

It means greater choice and hopefully transparency for consumers. For the existing banks, it is frankly a headache.

They have been mandated to provide PSD2 compliant services by 2018.

A couple of banks I spoke to told me that had they not been mandated to open up their platforms (and hence innovate) they wouldn’t have.

This got me thinking. Which industry could get ahead of the curve and instead of waiting to be disrupted by a Government directive, instead disrupt themselves and provide real innovation and develop better services for clients.

Ideas anyone?