Tandem Bank partners with Token to leverage opportunities in Open Banking

Tuesday 26 March 2019 13:43 CET | News

Turnkey open banking platform provider, Token, has announced that its technology is enabling digital challenger bank Tandem to achieve PSD2 compliance and leverage Open Banking opportunities.

Tandem is a digital-only bank that provides a money management app, credit cards and fixed-rate savings accounts to more than 500,000 consumers across the UK. It is integrating Token’s full suite of open banking solutions into its core platform, including APIs, to facilitate PSD2 compliance.

Having hit the March 14th deadline for technical specifications, support and a testing facility, Tandem is now looking to look beyond core compliance, developing innovative new services that make use of new opportunities around payments. The bank is the first institution built from the ground up with open banking in mind.

As well as PSD2 compliant APIs, Tandem has the option of using Token BankPay to enable bank direct payments and Token Connect to expand its catalogue of aggregated banks through a single integration.

Token’s solutions will allow Tandem to comply with PSD2, enabling the bank to invest its time and capital into improving user experience and offering innovative new open banking services to customers.

Token will provide Tandem with PSD2 API, as well as outsourced TPP management, certification and support.

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Keywords: Tandem Bank, Token, Open Banking, PSD2, compliance, API
Countries: World