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The Implications and Requirements of PSD2 Open Banking for Programme Managers

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The Implications and Requirements of PSD2 open banking for Programme Managers

In a recent dialogue with the EBA, they stated about PSD2 open banking regulations that: “Ignorance of them can of course not be used to justify non-compliance”. Further adding: “Non-compliance amounts to a breach of law, with the resultant consequences for the legal entity.”

With that mind and with a deadline of March 14 2019 looming less than 6 months away, whereby all Financial Institutions offering an API solution, which allows Third Party Providers (TPPs) access to end user transactional account data, must have it available for external testing, we can’t help but wonder if Prepaid and Debit Programme Managers (PMs) fully understand what they need to do in order to be ready.

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