European fintechs have written to national regulators to express “grave concern” over the quality of application programming interfaces (APIs) being readied by banks, reiterating calls for flexibility around September’s reforms.
In correspondence seen by PaymentsCompliance, the European Third-Party Provider Association (ETPPA) said it believes “almost all APIs” tested by its members would result in “significant customer detriment” when regulatory technical standards on security take effect in six weeks’ time.
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