EBA Rejects Industry Suggestions For Open Banking 'Guestbook'

The European Banking Authority (EBA) has further narrowed the lane for fintechs when it comes to access to customer accounts, rejecting industry proposals for a workaround when third parties are using a bank’s “fallback” interface.

There have been ongoing disputes over contingency access to accounts under the revised Payment Services Directive (PSD2), which applies when a bank’s main application programming interface (API) is unavailable or has not gained regulatory approval.

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