What is considered a payment account under PSD2 and what isn’t? Seems like a simple question, right? But, as with most topics in the finance industry, the answer is almost always ‘well, it depends…
Many of the acronyms used in open banking were introduced in connection with PSD2, and they can be a little confusing. This means it’s important to explain them, otherwise, people might have a hard time following you.
SCA stands for Strong Customer Authentication, and it’s a regulatory requirement introduced in connection to PSD2. Here’s a basic summary of what a ‘strong’ authentication process can look like – and why it’s important.
When charging or paying out customers, businesses rely on them to provide their account details. But people can make mistakes – or try to commit fraud. Thankfully, account verification can save everyone a lot of grief.
Not sure what open banking APIs are, and getting tired of hearing about them all the time? We’re looking past the technicalities and explaining the term in plain English.
Multi-banking makes it easier for people to see the full picture of all their finances by gathering all their accounts in one view. Here’s why that can make a big difference for consumers and businesses.
We’re always on about how great open banking is, and how it’s ramping up innovation and competition in the financial services industry. But what is it, exactly? And why does it matter? Here’s a (very simple) rundown.
Not sure what payment initiation is, what it looks like, or why you should care? We’re breaking it down into simple terms. Here’s how it works, and what advantages it brings to consumers and businesses alike.
Data is great, but it can often be made better. That’s what data enrichment is all about. Here’s what data enrichment can do for financial data in very simple terms. And why it can make all the difference.
We get down to the basics of account aggregation. Find out more about what it means, and how it can be used to increase transparency for both consumers and businesses.