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PSD2: Open APIs and Open Banking

Open APIs and Open Banking have grown over time from being a purely technical topic to being a strategic business accelerator that Banks cannot afford ignoring.

In the past decade, digital companies have proved very successful in opening their systems to connect with innovative firms outside their organizations, with the goal of delivering attractive services to their customers when and where the customer needs them. APIs and digitisation allow value to be created in a distributed way through an ecosystem of partners.

By the end of 2018 more openness is mandated to the Banks by the PSD2 provisions, and this will change the future of banking forever!

TAS Open Banking helps Banks to reduce the gap and react to disintermediation in payments by empowering their ability to utilise the ecosystem in co-creating value for their end-customers.

 

 Discover more about PSD2 impacts

 

The platform for PSD2 compliance

TAS Open Banking

TAS Open Banking framework enables fast and flexible implementation of PSD2 compliance and unlocks PSPs’capability to develop and deliver new API based services.

  • Full availability of PSD2 regulated services
  • Available with an embedded API management services layer or with an integration interface to the API management SW already in use by the bank
  • Manages Smart Accounts, a value added service feature enabling the configuration of virtual customer accounts in association with TPPs Full compliance with SCA requirements
  • Natively integrated with Instant Payments gateways  

Download TAS Open Banking Overview


PSD2 and the payments ecosystem metamorphosis:

How banks can save the banks

 

Vansnick With the activation of PSD2 regulation beginning in January 2018 for all EU countries, third parties will get access to financial data of banking customers under the condition that those customers gave their explicit consent. While this new legislation will open up the payment space for new Third Party Providers (TPPs) such as Payment Initiation Service Providers (PISPs) and Account Information Service Providers (AISPs), and as such create an increased competition for payments services traditionally offered by banks, PSD2 will also create new opportunities for corporates and retailers.

How will the landscape for financial services change?

 

 Read the insightful article by Alain VansnickSenior VP, Business Development EMEA of TAS Group, published on Bobsguide

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