Following a survey of thousands of European financial institutions, open banking platform Tink has said not a single one has developed an application programming interface (API) good enough to facilitate third-party account access.
The firm called for a delay to September’s deadline for EU rules on account access. Under the reforms, banks that do not want to provide an alternative fallback mechanism for third-party providers (TPPs) must be able to prove to regulators that the primary method of access is satisfactory.
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