TrueLayer will bring its connectivity expertise to the Advisory Group, which represents the demand side for the Berlin Group API standards powering open banking across much of Europe.
The London-based company, founded in 2016, builds technology that allows third party applications to access their users' financial data and initiate payments securely.
TrueLayer already plays a key role in influencing similar standards in the UK, as part of the Open Banking Standards Forum. It also works closely with policy makers on the regulatory frameworks for Open Banking, in the UK and internationally.
Berlin Group NextGenPSD2 is working on detailed Access to Account (XS2A) standards, allowing innovative fintechs like TrueLayer to connect to banks across Europe.
“The input of experienced TPPs like TrueLayer to the definition and prioritisation of requirements for the Berlin Group API is absolutely essential to further improve this standard - welcome on board!”, comments Ralf Ohlhausen, Co-Chair of the NextGenPSD2 Advisory Board.