In Europe, PSD2 (Payment Security Directive) and FIDO (Fast Identity Online) Standard are boosting FinTech disruptors’ (third party applications, online banks, etc.) position and legitimizing their identity in banking, which has traditionally been dominated by a handful of incumbents. According to Business Insider, UK has three banks in the top ten largest banks in the Europe. PSD2 is a pan-European directive, intended to spark regional innovation, spur healthy competition between challenger and legacy banks, while specifying customer centricity as it’s core.