PSD2: UK Banks Told To Support 'App-To-App Redirection'

UK financial institutions have been instructed to support an additional authentication model for open banking, based on redirecting the end user between two different mobile apps.

Secondary legislation that supports the revised Payment Services Directive (PSD2) will, from September next year, place tough demands on banks building dedicated interfaces — typically APIs, or application programming interfaces — to let third-party providers gain access to customers’ accounts.

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