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Open banking is undoubtedly the 'new black ' for the financial sector today, i.e. one of the most discussed and most promising areas for financial technology development. In the European Union, Open banking was established in 2018 with the Second Payment Services Directive (PSD2), whose adoption could be compared to a tectonic shock. This Directive has demanded that the classic banks would share customers’ account information with the licensed third-party service providers. The Directive set out the requirements regarding the use of the customers’ consents, the ensuring of security of the services provided, and the regulation of the relationship between third-party service providers and the payment service providers processing the payers' accounts.

The information systems operated in financial institutions collect and store particularly sensitive data, this is why supervising authorities pay special attention to their reliability and security. Quite often, financial institutions not daring to deal with the compliance challenges alone rely on third parties providing IT services. Rūta Šiaučiulytė, Head of the Division of Legal Counsel and Compliance in the Forbis Company operating in the field of banking technology for almost 30 years, advises on how to choose a reliable information technology and software supplier that would facilitate routine operations and simplify the compliance processes.

The success of any IT project largely depends on how carefully it is planned. Head of the Project Management Centre of the Forbis company-developer of banking IT systems, dr. Miroslav Švabis shares his experience: what to consider when planning IT projects and what mistakes to avoid in the course of their implementation.

Ija Šležė director of Forbis – developer of FinTech considers that the heads of IT companies should pay significant attention to maintaining good relationship with the employees, and she also shares her experience how to achieve this.