PSD2: It's Time to Act
I recently sat down with Sarah Lockett, chief correspondent for the Wall Street Journal’s Business Debate at the London Stock Exchange, to discuss APIs and the upcoming PSD2 regulation. It was a short but energizing interview. Check it out:
We’ve been talking about banks and APIs a lot, at Apigee open banking summits, in podcasts, at the BAFT Payment Symposium, at the TechUK Payments Innovation Conference, and more. There’s been a lot of talk, a lot of ink, and a lot of pontificating dedicated to the upcoming PSD2 regulation.
For good reason. In case you haven’t been paying attention for the last couple years, European Union regulators introduced PSD2 in an effort to increase competition and promote innovation in the banking and payments landscape. The implementation date is fast approaching (PSD2 takes effect Jan. 13), which means it is time to stop talking and start doing!
If your organization has been talking about open banking and PSD2, but you haven’t yet executed, the good news is that it is not too late. We just released a new version of our Open Banking Accelerator (APIx) this week that will help financial institutions get up to speed fast.
Major updates in this version include Open Banking UK V1 API Specification and Open ID Connect FAPI support for improved security. In addition to API support, the Open Banking Accelerator provides an API sandbox, a developer portal, and a comprehensive set of test cases. You can download this accelerator from GitHub and deploy it on the Apigee Edge platform.
If you want to see it in action before downloading, try out our sandbox here: https://openbank.apigee.com/.
And if you’d like to talk some more about open banking, catch me at SIBOS in Toronto on Oct. 17.