Bank X Psd2

F inologee s psd2 for banks product has been designed to help banks achieve full compliance with the revised payment service directive psd2.

Bank x psd2.

If bank x is able to offer more value through an open api they position themselves as the preferred banking partner for all these new non fis fintech competitors that will arise. European banks are finally realising the magnitude of the revised directive on payment services psd2 which will force them to provide account information to third parties via application programming interfaces apis that cut out transaction intermediaries. Open bank project psd2 suite enables financial institutions to securely and rapidly comply with psd2. Pwc waiting until the eleventh hour european banks reaction to psd2 thanks for stopping by take a look around.

Even though this product is readily available we give financial institutions the power to cherry pick the services and apis they need in order to open up their data to third party providers. The suite is based on open bank project api platform and includes a set of tools and softwares to handle tpp registry api gateway consent management risk engine multi factor authentication and sca and berlin group specifications. Standardise and make interoperable card online and mobile payments. It will allow merchants businesses like amazon to retrieve your account data from your bank with your permission.

To sum up about psd2 banks should see apis as an opportunity to differentiate their value added services against competitors. Psd2 is seen as a niche topic at banks and is not really getting top management level visibility which in turn means that psd2 does not feature in bank strategy discussions source. It expands the scope of the first eu payment services directive psd which entered into force in 2009. That means when you buy something they can make a payment for you without having to redirect you to another service like paypal or visa.