PSD2: Banking Groups Allowed To Share API Testing Data

Banking groups with a presence in multiple European countries can share data from application programming interface (API) testing across separate legal entities, regulators have confirmed.

To be spared from having to provide a second contingency access mechanism — known as a fallback interface — banks must show their main API has been “widely used” by third-party providers for at least three months prior to September 14 this year.

The requirement forms part of regulatory technical standards accompanying the revised Payment Services Directive (PSD2).

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