An independent survey of European banks has suggested that a significant number will miss the chance to gain the fallback exemption from its first availability in September, as many have failed to offer the requisite access to third-party providers (TPPs).
The sampling of 442 account servicing payment service providers (ASPSPs) by Swedish open banking platform Tink revealed that just 59 percent had made their application programming interface (API) testing facilities available to TPPs on or by March 15 this year.
To continue reading...
Our Key Benefits
PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.
We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.
We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.