European Commission Defends Technical Standards Amendments

EU lawmakers have defended the final drafting of third-party access rules under the revised Payment Services Directive (PSD2) against criticism that they had not properly consulted with regulators on amendments related to screen scraping.

In the final regulatory technical standards on strong authentication, the European Commission included a rule change that allows third parties to continue accessing customer account data via a form of screen scraping, but only if a bank’s dedicated communication channel fails to gain regulatory approval.

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