KBC is the second largest bank in Belgium. Formed in 1998 after the merger of two Belgian banks (Kredietbank and CERA Bank) and a Belgian insurance company (ABB Insurance), employee over 42,000 people worldwide. Its main activity is its integrated bank-insurance, and has more than 11 millions of clients. Regarding to KBC's core markets, these are Belgium, Czech Republic, Slovakia, Hungary, Bulgaria, and Ireland; however, it is also present, to a limited extent, in other countries.
The new European payment directive -PSD2- opens the possibility of offering financial services to third-party companies (TPPs). KBC has seen this challenge as an opportunity to move fast.