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Limitations of using the EBA register for TPP checking

Limitations of using the EBA register for TPP checking

From the 14th September 2019, over 9,000 FIs in Europe have to comply with ‘Open Banking’ under PSD2’s Regulatory Technical Standards (RTS). This means an FI cannot deny access to a Third-Party Provider (TPP) if they are appropriately regulated; but how do they know this and that a TPP are who they say they are?

The EBA has a central register of payment and electronic money institutions that can be accessed either through a web browser interface or downloaded as a JSON (JavaScript Object Notation) file.

For a system to utilise the information in the register it has to be regularly downloaded and a full interrogation and data management system built. It is not accessible on a real-time basis to check TPP transactions

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