BridgeFund case

PSD2 enables new and innovative 'fintech' solutions by allowing direct access to the transaction data and payment functions of their bank with the customer's consent. A standard programming interface to every European bank. It sounds too good to be true. And unfortunately, it is. Because although integrating with a bank has become much easier, each bank is still slightly different, which means that each bank must be connected individually and there are unpleasant differences in the behavior of the programming interface. Additionally, obtaining a PSD2 bank license is a lengthy and costly process.

An alternative is to use an aggregator that handles the PSD2 integration for you. However, this comes at the cost of control over identity and branding, as the customer must give the aggregator permission to approach their bank on their behalf.

We have extensive experience with PSD2 integration, both through an aggregator and with direct API connections. Moreover, we have developed a handy service that easily exposes payment data from existing technical formats MT940 and CAMT.053 with a PSD2-compliant JSON REST API. Curious? Then try our open banking solution.

Was that just too many technical abbreviations? Then contact us to discuss the possibilities.