Fintechs Plea For Open Banking Delay, Claim Bank APIs Still Failing

Swedish fintech Tink has written to regulators across Europe pleading for flexibility around next month’s open banking reforms, claiming its latest survey of banks shows there is not a single compliant application programming interface (API) in operation across 12 member states.

In an open letter dated August 21 and circulated on Thursday, Tink said it had yet to find an API that it considers compliant with regulatory technical standards on security, which take effect across the EU on September 14.

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