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Open Banking Europe to launch PSD2 Transparency Directory

06/11/2019

Open Banking Europe (OBE) announced today the launch of the OBE PSD2 Transparency Directory, which will contain information about PSD2 and Open Banking APIs.

The directory meets the need of third-party providers and account-servicing payment service providers for a repository storing all key information on these APIs in one single place . Without such a central directory, TPPs and ASPSPs would have to go to the website of every single bank in Europe to look up the necessary information.

The OBE Transparency Directory builds on the existing directory for regulatory information. It provides information on banks and brands, developer portals, end points and other information about the APIs, such as security and standardisation options. Contact information for both ASPSPs and TPPs will be stored in the directory, allowing regulated market participants to contact each other more easily.

The transparency directory currently contains information on over 1,500 developer portals of banks; information about other banks and financial institutions will follow in the next six months.

“The TPP community welcomes any market initiative that helps to provide transparency to the market. Open Banking Europe is doing some extremely useful work and we hope that this initiative succeeds and brings the results we are looking for,” said Ralf Ohlhausen, Executive Advisor at Pay Practice.

“OBE has stated that it will provide a directory of operational data since we started in 2017. Now that the APIs are published, and as they mature, there begins to be enough material to put inside it,” said John Broxis, Managing Director of PRETA.

Author: Kate Nelson