What is it and Why?

​PSD2, which came into force in January 2018, regulates payment services and payment service providers throughout Europe. The goal is to allow third parties to access client data (Upon approval) to provide value-added payments and banking services. Under the implementation process, financial institutions will have to propose their open Application Programming Interface (APIs) to third-party providers (TPPs) for testing and integration six months before the final implementation date.

When?

Two dates to keep in mind:

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1. March 2019: Testing and integration environment, also called "Sandbox", must be ready and available to TPPs.

2. September 2019: Official implementation date for Go-Live with real production client data.

What is expected on those dates?

PSD2 = Only 2 things:

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1. Provide account balance and movements: Upon client approval, the TPP must be able to request an authorised account balance as well as account movements through a dedicated API.

2. Process payment: The accredited TPP must be able to process payments via an authorised account through a dedicated API.

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But PSD3, PSD4, etc. will be coming...

Is it worth panicking?

Is it worth then paying huge subscriptions for that?

Is it worth allocating so many resources and effort?

AlSego Opium.PSD2™ solution

In response to high demand from its clients, AlSego has launched Opium.PSD2™ solution that integrates with the core banking platform. It can be delivered as a turn-key and secured solution to any ASPSP that complies with the directive or wants to go for Open-Banking.

We make it easy so you can avoid the hassle and burden

Sandbox: We manage all aspects of the Sandbox for you in the form of a Business Process as a Service. We provide all the technical and secured infrastructure and take care of the TPPs' testing and integration processes, from documentation supply to technical support.

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Go-Live: Once the TPP is ready, and not before September 2019, our dedicated Sandbox platform informs you and automatically publishes all necessary technicalities to your "On-Premise" Opium.PSD2 platform.

Opium.PSD2™ intensively uses Robotic Process Automation (RPA)

Thanks to its smart engine that automates workflows and that complies with Berlin-Group standards, Opium.PSD2™ solution tremendously decreases TPP support as well as web service publications. It also ensures that both Sandbox and On-Premise platforms are synchronized through the authorization directory.

That's the way we succeeded in issuing the most cost-efficient solution.

Opium.PSD2™ delivered as a mixed proposal is the SECUREDapproach

PSD2 uses the eIDAS certificates, meaning the highest level of qualified digital certificate for electronic signature. You cannot take the risk of sharing your certificate private key, that would allow anyone to electronically sign for you!

Be positive and realistic

PSD2 should not be perceived as a competitive risk, but as an opportunity to also become a TPP and therefore offer added-value services to existing and potential customers.

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Opium.PSD2™ is an optional part of Opium.eBanking™ suite. Existing OeB clients, wishing to bundle both solutions, can immediately take advantage of the opportunity by giving their clients access to new added-value services while retaining ownership of the primary relationship.