ETSI and OBE signed an MOU in 2018 to facilitate PSD2 understanding and collaboration on regulatory and market difficulties. This was following the publication of the EBA’s Regulatory Technical Standards on Common and Secure Communications for PSD2 interfaces, which brought together eIDAS and digital certificates (represented by ETSI) with open banking. The success of the partnership has led to the extension of the MoU initiating another three years of collaboration and innovation.
The work of ETSI and OBE focused on three core objectives:
These aims and objectives, which are as relevant today as they were in 2018, have been achieved through a series of Member working groups, workshops, and industry documents. ETSI and OBE have together provided guidance on standardisation and identity and security issues.
Having achieved so much under the rollout of PSD2 Open Banking, continued collaboration between ETSI and OBE will be important in shaping the industry as it moves ahead.
In 2022, OBE and its members from financial institutions, third party providers, and regulated certificate issuers (QTSPs) will be following the upcoming review of PSD2. They will also be exploring how eIDAS 2.0 will impact the way in which consumers log into their bank accounts and any developments or changes regarding the global applicability of eIDAS certificates and API security standards in Open Banking.
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