The Euro Banking Association launches Open Banking forum

Source: Euro Banking Association

The Board of the Euro Banking Association (EBA) has decided to initiate an open forum for banks, Fintechs and other stakeholders to exchange their views and experiences on the various issues related to implementing PSD2 and creating an Open Banking environment.

“This new forum on Open Banking is intended to offer a pan-European platform for dialogue in order to facilitate European solutions that respond to the requirements of the market and the expectations of the regulators,” says Wolfgang Ehrmann, Chairman of the Euro Banking Association. “Given its high potential, the EBA Board believes that the relevant actors and stakeholders across Europe should have a place where they can discuss the different aspects and needs around Open Banking. The Euro Banking Association is pleased to support this open exchange, in line with our pan-European mission and objectives.”

The activities of the Open Banking Forum will be co-moderated by Don Ginsel, Holland FinTech, and Gilbert Lichter, Euro Banking Association. In pursuing its activities, the Open Banking Forum will set its own agenda in accordance with the practical interests of its participants. The Forum will develop its activities during the fourth quarter of 2016 and into 2017, accompanying in a first phase the practical implementation of the Payment Services Directive and related regulatory technical standards.

Gilbert Lichter “Through our Forum, we want to contribute to the industry’s efforts in developing solutions that help to better meet evolving consumer needs regarding the handling of financial transactions and sharing of data, as supported by new innovative technologies and new legislation. The industry’s evolution towards Open Banking can only benefit from a broad, Europe-wide dialogue between practitioners from all parts of the industry and we look forward to the input from all interested parties.”

Don Ginsel “Digitisation is changing the financial ecosystem, enabling many possibilities to improve financial services. Open Banking is the logical step for banks to take part in this development and work more closely together with Fintechs and deliver better value for the end-customer. This open forum should lead to better understanding and successful co-operation in this area.”

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