When Bill Gates proclaimed in 1990 that “banking was necessary, but banks were not” he might have been ahead of his time. Now, almost 30 years later, his proclamation holds true in Europe more than ever. 2018 will be the game-changing year for traditional banks due to PSD2, the revised Payment Service Directive. “The new EU directive opens the door to any company interested in eating a bank’s lunch” (Viola Hellström, Evry). This article will briefly explain what P2D2 is and what it will mean for traditional banks. But this is not just a bad news show for the traditional European banks as we know them. If they choose to embrace Customer Centricity they will not only stay in the game, but ahead of it.