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At the end of November, The Central Bank of Jordan (CBJ) issued instructions governing Open Finance services by all banks operating in the Kingdom, as well as online payment and money transfer compani...
Open Banking is steadily penetrating most of the world’s regions and MENA is no exception. With the majority of the region’s population being young and demonstrating one of the highest rates of smartp...
Open banking comes with a lot of expectations and promises, such as democratisation of Access to Account (X2A), increased competition between banks and fintechs, and provision of better control to end...
This is the second article from the series about the value of open banking and the rules it comes with. In the first article we have discussed the value of open banking and the benefits it brings to e...
This article is part of a series about the value of open banking and the rules it comes with. Open banking fundamentally changes the landscape of the modern financial sector, stimulating all types of ...
According to PSD2, a payment initiation service provider (PISP) represents a payment institution, and thus falls under the Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) regulations. Y...
According to the RTS on SCA and CSC (Article 34. Certificates), payment service providers shall rely on eIDAS certificates for third party providers’ (TPPs’) identification. There are 2 types of PSD2 ...
According to PSD2, regulated TPPs are allowed to access banks’ PSD2 interfaces. TPPs can choose whether to integrate with banks on their own or to rely on an aggregator - Technical Service Provider (T...
This is the second piece from a series of articles about non-dedicated PSD2 interfaces. While the first article lists the requirements imposed upon PSD2 interfaces and how banks can implement these, ...
This is the first piece from an upcoming series of articles about non-dedicated PSD2 interfaces. The scope of these articles is to describe to EU-based ASPSPs that have chosen to provide a non-dedicat...
According to PSD2, the financial institutions that act as ASPSPs should have in place at least one interface for regulated TPPs (including other ASPSPs that act as TPPs) for identification and secure ...