PSD2: Banks Sweat Over 'Utopian' API Approval Deadline

Concerns are growing that European banks developing application programming interfaces (APIs) could miss next year’s deadline for gaining regulatory approval, leaving third parties and national authorities with difficult decisions to make.

Regulatory technical standards that take effect on September 14, 2019, and accompany the revised Payment Services Directive (PSD2), place a formal framework around how regulated third-party providers can gain access to customers’ accounts.

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