Data centers choose the same PSD2 standard

The three Danish data centers now collaborate on a common standard for the API's that give third parties access to the banks' data according to the PSD2 directive.

The three Danish data centers have initiated a collaboration to develop uniform technical interfaces - API's - for fintechs and other third parties who want access to banks' data according to the EU's new payment directive, PSD2. All three will follow the Berlin Group standard in the future, and they will coordinate a uniform implementation of the API standards.

"Common standards for the data centers 'API solutions are the easiest for those third parties who must integrate into Danish banks' systems. In addition, it fits perfectly with our own needs. Broad agreements in an area like this create stability and fertile ground for our banks to participate in the development of open banking, ”says Allan Vadskjær Severinsen, Deputy director of Bankdata, who had not previously settled on a standard.

"Everyone is naturally interested in the fact that the API's on the Danish market will be as uniform as possible for third parties to access. Previously, BEC developed towards the UK Open Banking standard, which was the most mature. But in February, the Berlin Group released version 1.0 of their technical framework for API standards, which is now working in practice. Therefore, in the future, we will base our PSD2 API's on the Berlin Group standard. There is not much difference - so it is quite easy for us to adjust, ”says Strategic Manager Rasmus Søegaard Løfstrøm, BEC.

Denmark's third data center, SDC, has previously chosen to follow the Berlin Group.
“As a Nordic IT supplier, it has been important for us to choose a broad European-based standard in the PSD2 spirit. From the start, we have made use of the work of the Berlin Group to ensure that we now have a running solution with the first TPP's that are testing their solutions against our API's. We see it as a great advantage that all three data centers now use the same European API standard that will make it easier to work with fintechs and other third parties, ”says Head of Business Development for eBanking & Payments, Ole Bruhn Kyhnæb, SDC.

He sees it as a further advantage of the Berlin Group that all participants, including Danish banks and data centers, have the opportunity to influence the API standard.
“We see it as an opportunity to put a Nordic fingerprint on the common European rules of the game. That's why we also participate in the PRETA collaboration, which is expected to provide a common European solution for validating TPP's, ”elaborates Ole Bruhn Kyhnæb.