Preta signs 30 institutions to Open Banking Europe programme

Preta signs 30 institutions to Open Banking Europe programme

EBA Clearing subsidiary Preta has signed up 30 banks and tech firms to Open Banking Europe, an initiative launched in June last year to create a centralised PSD2 directory.

With the backing of major European banks, Open Banking Europe will seek to address regulatory concerns about the interoperability of bank data sharing initiatives under PSD2.

John Broxis, managing director of Preta says the need for a centralised directory for account-servicing payment service providers (AS-PSPs) and third-party providers (TPPs) has become more pressing as compliance with Access-to-Account requirements will have to be achieved by the end of September 2019.

"This practical deliverable is a key missing element that PSPs and TPPs across Europe will have to rely on from September 2019 when the relevant regulatory requirements kick in," he says. "Preta’s expertise in delivering successful pan-European solutions in consultation with users and stakeholders is a sound basis for providing a fit-for-purpose solution and building the necessary reach.”

In a first step, Preta has organised a joint event with ICT standards setter Etsi on the topic “eIDAS meets PSD2. Securing access to financial services”.

At the conference, which takes place in Nice tomorrow, Broxis says Preta will present the Open Banking Europe initiative and a demonstration of the PSD2 qualified certificate registration experience along with an example of securing end-to-end transaction with PSD2 certificates.

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