PSD2 api

Open banking puts your customers in charge of their account data, allowing them to share it with payment providers of their choice.

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One compliance project – countless possibilities

To better:

  • customer experience
  • innovation
  • further development

your institution needs to allow a secure way for customers to authorize their preferred third-party providers in having direct access to two aspects of their bank accounts:

  • their account and transactional data
  • the ability to authorize payments directly from their account.

It is time to set your own PSD2 strategy where you can pursue ‘bank-as-a-platform’ strategy, where third parties will build applications and services around your institution.

Open API approach – the smarter way to PSD2 service

While transforming the fractured landscape, APIs also let banks create connected experiences on existing applications. APIs give access not only to your bank’s internal system, but also to new products external to your bank, such as P2P lending or digital wallets.

And while all PSD2 API solutions go far.

Ours goes a bit further.

  • Based on the Berlin Group guidelines and compliant with all requirements of the Revised Payment Services Directive (PSD2), it also follows the local regulatory requirements.
  • By letting your clients import accounts from multiple other banks, it presents new business opportunities.
*PSD2 API is implemented on Backbase digital banking platform, following Backbase standards, practices, and local regulatory requirements.

Want to learn more? PSD isn’t only a compliance project, use it to expand business opportunities.

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