The development of open banking in Bulgaria was discussed by panelists from Evrotrust Technologies, Postbank, Iris Solutions and Open Banking Europe at Konsentus’ March Roundtable.
When a third party provider (TPP) changes its legal identity there are wider ramifications that Financial Institutions must be aware of to ensure they safeguard their customers’ data and funds.
As we near the end of 2021, we’ve looked back at the European trends and progress in open banking from September 2019 to September 2021 and discuss what we’re likely to see as we move into 2022.
The Konsentus Q1 2022 Open Banking TPP tracker has seen the number of pure-play TPPs across the EEA and the UK now totals 535, while the number of TPPs in the EEA alone has risen to 316.
The revised Payment Services Directive (PSD2) came into force in January 2018 and introduced a regulatory framework for open banking. It established new regulated players in the market, which are called third party providers (TPPs). Four years on, there still exists much uncertainty and confusion around how liability is divided between Financial Institutions and TPPs.
The Konsentus Q4 2021 Open Banking TPP tracker explores TPP growth over the past three months and takes a look at projected TPP numbers and API volumes for the next quarter.
