PRETA signs up 30 participants to Open Banking Europe

With the revised Payment Services Directive (PSD2) in force since 13th January 2018 and the Regulatory Technical Standards on common secure communication adopted on 27th February 2018, the need for a centralised directory for account-servicing payment service providers (AS-PSPs) and third-party providers (TPPs) has become more pressing as compliance with Access-to-Account requirements will have to be achieved by the end of September 2019.

To this end, Open Banking Europe is bringing stakeholders together to address this need and the practical issues around it based on a pan-European approach.

Open Banking Europe (OBE) is a PRETA initiative launched in June 2017 with the aim of fostering innovation and competition to increase consumer choice and enhance security for online payments in the EU.

To do that, Open Banking Europe brings market players together to turn regulatory requirements into operational reality and is working on providing the industry with PSD2 directory services.