Rabobank turns to Sopra DxP for PSD2 compliance

Source: Sopra Steria

Sopra Banking Software, global leader in digital banking and financing software, announced today that Rabobank International Direct Bank (Rabobank IDB) is using its “Digital Experience Platform” (DxP) in order to comply with PSD2* regulations.

Part of leading Dutch group Rabobank, Rabobank IDB is a savings bank with payment capabilities operating in Belgium and Germany. PSD2 is the new Payment Services Directive that becomes effective in September 2019 and aims to guarantee greater payment security on the European market. Rabobank IDB chose Sopra Banking Software’s Digital Experience Platform (DxP) because a standard version was readily available with preconfigured digital services. What’s more, the solution offers flexibility and agility in order to accommodate Open Banking in the future, with optimum overall cost of ownership.

Sopra Banking Software’s DxP platform helps Financial Entities and Banks to comply with the PSD2 regulation. As a first step, it provides test environments called “sandboxes” so that fintechs can start to experiment on access point APIs and test data implemented by banks. It also includes tools to manage third-party providers (TPPs) and payment service users (PSUs). DxP also offers integrated monitoring and analytics to leverage the new data flows generated by the PSD2 ecosystem.

Rabobank IDB launched its sandbox in Belgium in February, well ahead of the regulatory deadline.

Hendrik Hofkens, Delivery manager of Rabobank IDB, says: “Sopra Banking Software’s Digital Experience Platform (DxP) greatly helped us deliver our compliancy requirements to the market. The solution and the company’s involvement throughout the whole process ensured an easy and smooth launch of our PSD2 compliant solution.”

Duco de Lange, Managing Director of Sopra Banking Software in the Netherlands, commented: “We, at Sopra Banking Software, have been working with Rabobank IDB for more than 15 years so we are very familiar with the firm’s needs and approach. For PSD2 compliance, the goal was to meet a tight regulatory deadline with a robust and flexible solution, and the scale to remain compliant with multiple players. We are proud of the continued confidence Rabobank IDB has in our company and our solutions, and to have participated in one of the first project of PSD2 compliance in Europe with them.”

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