Designing and implementing PSD2 XS2A API solution

Designing and implementing PSD2 XS2A API solution

Our client a German private bank needed to comply with PSD2 and was regulatory enforced to open up the digital payments system for parties other than banks.

We helped the organization to be PSD2 compliant and to become an open bank. We advised the bank in balancing security, customer experience and innovation when implementing the Regulatory Technical Standards.

Our task: IMPLEMENT PSD2 XS2A SERVICES AND OPEN UP DIGITAL BANKING PLATFORM

  • Designing the customer journey for giving and managing the consent by the customer in digital channels and for using the consent by Third Party Providers (TPP)
  • Implementing Regulatory Technical Standards (RTS) as developed by The Berlin Group and technical requirements to give Payment Initiation Service Providers, Account Information Service Providers or Payment Instrument Issuing Service Providers access to accounts (XS2A) and introducing three types of services that can be offered by the respective providers: payment initiation services (PIS), account information services (AIS) and confirmation availability of funds (CAF)
  • Developing the business architecture and operating model for TPP licensing

“PSD2 contributes to the adoption of open banking, accelerates the creation of new business models and is having a significant impact on the traditional banking landscape.”