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EU PSD3 and Payment Services Regulation (Proposed) for Compliance Officers

What does EU PSD3 and Payment Services Regulation (Proposed) require of a Compliance Officer?

The proposed EU Payment Services Directive 3 (PSD3) and Payment Services Regulation (PSR), published by the European Commission in June 2023, will replace PSD2. Under EU PSD3 and Payment Services Regulation (Proposed), a Compliance Officer's work is deciding which controls you own outright, which you share and which belong to another team, then holding the evidence for the first group.

Which EU PSD3 and Payment Services Regulation (Proposed) controls land on the Compliance Officer

Compliance Officers ensure the organisation meets its regulatory obligations. They manage audit programmes, maintain evidence repositories, track regulatory changes, and coordinate across business units to sustain compliance posture.

EU PSD3 and Payment Services Regulation (Proposed) includes requirements that directly affect the Compliance Officer role. Understanding which controls fall within your ownership, which are shared, and which are owned by other teams is the foundation of effective compliance management.

What a Compliance Officer is accountable for under EU PSD3 and Payment Services Regulation (Proposed)

1

Monitoring regulatory changes and assessing their impact on the organisation

2

Managing internal and external audit programmes and evidence collection

3

Maintaining compliance documentation, policies, and control frameworks

4

Coordinating with business units to implement and maintain required controls

5

Reporting compliance status to senior leadership and regulatory bodies

Where Compliance Officers lose time on EU PSD3 and Payment Services Regulation (Proposed)

These are the most common obstacles Compliance Officers face when managing EU PSD3 and Payment Services Regulation (Proposed) compliance, and how to address them:

Challenge 1

Tracking overlapping requirements across multiple regulatory frameworks

Challenge 2

Collecting evidence from multiple teams and systems for audit readiness

Challenge 3

Keeping policies and procedures current as regulations change

Challenge 4

Demonstrating compliance ROI to justify programme investment

Challenge 5

Managing the volume of regulatory change across jurisdictions

A working order for a Compliance Officer starting on EU PSD3 and Payment Services Regulation (Proposed)

1. Readiness Assessment

Take a 5-minute readiness assessment to identify your organisation's current gap profile against EU PSD3 and Payment Services Regulation (Proposed). Get a prioritised action plan tailored to your specific situation.

2. Cross-Framework Mapping

Use our platform to map EU PSD3 and Payment Services Regulation (Proposed) controls against other frameworks you already comply with. EU PSD3 and Payment Services Regulation (Proposed) maps to 506 other frameworks in our database.

3. Build Your Toolkit

Equip yourself with EU PSD3 and Payment Services Regulation (Proposed) toolkits, self-assessments, and implementation guides from our store. Resources designed specifically for Compliance Officers managing compliance programmes.

4. Continuous Monitoring

Establish ongoing compliance monitoring using our platform's gap analysis tools. Track your maturity over time and demonstrate progress to stakeholders.

EU PSD3 and Payment Services Regulation (Proposed) in your sector

EU PSD3 and Payment Services Regulation (Proposed) for Healthcare→EU PSD3 and Payment Services Regulation (Proposed) for Financial Services→EU PSD3 and Payment Services Regulation (Proposed) for Technology→EU PSD3 and Payment Services Regulation (Proposed) for Government→EU PSD3 and Payment Services Regulation (Proposed) for Manufacturing→EU PSD3 and Payment Services Regulation (Proposed) for Energy→EU PSD3 and Payment Services Regulation (Proposed) for Retail→EU PSD3 and Payment Services Regulation (Proposed) for Education→

Who else owns part of EU PSD3 and Payment Services Regulation (Proposed)

EU PSD3 and Payment Services Regulation (Proposed) for CISOsView guide →EU PSD3 and Payment Services Regulation (Proposed) for Risk ManagersView guide →EU PSD3 and Payment Services Regulation (Proposed) for IT DirectorsView guide →EU PSD3 and Payment Services Regulation (Proposed) for DPOsView guide →EU PSD3 and Payment Services Regulation (Proposed) for AuditorsView guide →

Questions Compliance Officers ask about EU PSD3 and Payment Services Regulation (Proposed)

What does a Compliance Officer need to know about EU PSD3 and Payment Services Regulation (Proposed)?
As a Compliance Officer, your key responsibilities under EU PSD3 and Payment Services Regulation (Proposed) include monitoring regulatory changes and assessing their impact on the organisation and managing internal and external audit programmes and evidence collection. Understanding which controls you own versus which are shared with other teams is critical for effective implementation.
How does EU PSD3 and Payment Services Regulation (Proposed) affect the Compliance Officer role?
EU PSD3 and Payment Services Regulation (Proposed) directly impacts Compliance Officers through monitoring regulatory changes and assessing their impact on the organisation, managing internal and external audit programmes and evidence collection, maintaining compliance documentation, policies, and control frameworks. The framework provides structure that helps Compliance Officers demonstrate due diligence and report compliance status to stakeholders.
What are the biggest EU PSD3 and Payment Services Regulation (Proposed) challenges for Compliance Officers?
Common challenges include tracking overlapping requirements across multiple regulatory frameworks; collecting evidence from multiple teams and systems for audit readiness; keeping policies and procedures current as regulations change. Using cross-framework mapping tools and automated evidence collection can significantly reduce these pain points.
How should a Compliance Officer prepare for a EU PSD3 and Payment Services Regulation (Proposed) audit?
Start by conducting a readiness assessment to identify gaps. Then focus on maintaining compliance documentation, policies, and control frameworks and coordinating with business units to implement and maintain required controls. Maintain a current evidence repository and ensure all control owners have documented their processes. Our readiness reports provide a prioritised action plan specific to your gap profile.
What tools help Compliance Officers manage EU PSD3 and Payment Services Regulation (Proposed) compliance?
Effective EU PSD3 and Payment Services Regulation (Proposed) compliance management requires tools for gap analysis, control mapping, evidence collection, and reporting. Our compliance platform provides AI-powered gap analysis across 1,121 frameworks with 315K+ verified control-to-control mappings, helping Compliance Officers identify overlapping requirements and reduce duplicate compliance effort.

Compliance Officer: How ready is your organisation for EU PSD3 and Payment Services Regulation (Proposed)?

Answer 25 questions and get a professional readiness report with gap analysis, maturity scores, and prioritised action items. Results in 5 minutes.

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Written and maintained by Gerard Blokdyk, The Art of Service.