EBA Issues Initial Responses To API Complaints As First Deadline Looms

EU authorities have begun responding to concerns raised over the practical aspects of how banks and fintechs will connect to one another under new European payments laws, but have so far not addressed the most pressing issues.

The Working Group on APIs was convened by the European Banking Authority (EBA) to address issues around those application programming interfaces (APIs) that will function as the interface between banks and third-party providers (TPPs) under the revised Payment Services Directive (PSD2).

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