The New Era of Open Banking

Insight

What an exciting month! It has now been over two weeks since the latest PSD2 deadline, where European banks were obligated to provide a sandbox to third-party service providers (TPPs).

We think that in order to thrive, banks need to view PSD2 compliance as part of a broader digital transformation and learn to collaborate rather than compete. By creating an open API infrastructure, companies can form their own business ecosystems where they can connect, transact, and grow. Only then can they create and maintain a competitive advantage in the future.

During March we have had the pleasure to announce two great collaborations:

  • Suomen Asiakastieto has launched together with us a new PSD2 service. The goal of the service is to reduce the risk of overindebtedness.
  • OP Baltics sandbox is built on the Enfuce technical platform. More information about the collaboration will follow soon. 

It is extremely important for us that our customers can be sure that the solutions are fully compliant. Our Open Banking Regulatory Compliance platform meets all the compliance requirements set by the PSD2 directive. We offer a full package, from the needed APIs, handling the Strong Customer Authentication, validation of the TPPs, and the audit trail management, just to mention a few. Our turn key solution can give banks and other financial institutions compliance in just three days. For more information, contact us

Wishing you a great spring full of opportunities!

– Team Enfuce –