19 October 2017
visit www.response.ncr.com

Berlin Group to publish single API standard for PSD2

13 June 2017  |  15878 views  |  0 European flags

The Berlin Group, a European coalition of banks and payment processors, is pushing a single standard for API access to bank accounts to comply with new regulations on freeing up customer data under PSD2.

The revised Payment Services Directive introduces new 'payment initiation' and 'account information' services, operated by regulated Third Party Providers (TPPs) and enabled via a dedicated Access to Account (XS2A) Interface between banks and TPPs.

The Berlin Group says its NextGenPSD2 Initiative will help overcome the emergence of multiple competing mechanisms in the market by providing a harmonised API standard for accessing bank accounts.

The Group carries some heft in European markets, with membership comprising bank-backed ACHs and and industry bodies across the length and breadth of Europe.

Built as an ‘Access to Account Framework’, the Group says the standard will offer operational rules and implementation guidelines with detailed data definitions, message modelling and information flows based on RESTful API methodology. It will be published for consultation in Q4.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

European Commission calls on EBA to rethink screen scraping ban

European Commission calls on EBA to rethink screen scraping ban

22 May 2017  |  7149 views  |  0 comments | 17 tweets | 21 linkedin
European banks lobby Commission to push ahead with screen scraping ban

European banks lobby Commission to push ahead with screen scraping ban

16 May 2017  |  11140 views  |  6 comments | 29 tweets | 36 linkedin
Fintech coalition formed to fight EBA plans to outlaw screen scraping

Fintech coalition formed to fight EBA plans to outlaw screen scraping

05 May 2017  |  10481 views  |  5 comments | 30 tweets | 23 linkedin
Nordea readies for PSD2 with Open Banking API site

Nordea readies for PSD2 with Open Banking API site

01 March 2017  |  19768 views  |  2 comments | 33 tweets | 55 linkedin
EBA bends under weight of PSD2 mandates

EBA bends under weight of PSD2 mandates

07 December 2016  |  15225 views  |  2 comments | 39 tweets | 55 linkedin
PSD2: An open opportunity

PSD2: An open opportunity

30 September 2016  |  11356 views  |  1 comments | 24 tweets | 30 linkedin
PSD2 a golden opportunity for banks – new Finextra paper

PSD2 a golden opportunity for banks – new Finextra paper

29 September 2016  |  16303 views  |  0 comments | 31 tweets | 30 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.fivedegrees.nlRegister now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15688 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8859 views comments | 16 tweets | 22 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7960 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7081 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6212 views comments | 6 tweets | 3 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job