Open Banking & PSD2 software

Since 2019, the second European Payment Service Directive (PSD2) has been in effect in the Netherlands. This requires banks to provide access to their financial data and payment functions to third parties, with the customer's consent. As a result, new innovative services can be developed, which are also safer, as strong customer authentication is mandatory. The privacy of the disclosed data is safeguarded by the existing General Data Protection Regulation (GDPR) that came into effect a year earlier.

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.

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.