Blog Viewer

Agile Short- and Long-Term Adoption of PSD2: It’s Easier Than You Think

By Vincenzo.Certo posted Aug 16, 2018 06:15 PM


The revised European Payment Service Directive (PSD2) came into force at the beginning of 2018, and banks are now racing to comply and leverage business opportunities. But while they’re scrambling to secure their systems, the new regulation could potentially become an obstacle to banks.


The challenge is twofold. The first is how to contain the cost of complying quickly with a regulation that in and of itself doesn't bring in any revenue, even though it can speed up the adoption of an open platform, which would put banks at a competitive advantage. Another challenge is how to reap the long-term benefits of adopting an API approach, which can save time and resources in software development, maintenance and evolution.


The answer to both of these challenges lies in the CA PSD2 packaged work product (PWP). Based on the recognized NextGen PSD2 standard formalized by the Berlin Group, the PWP offers a predefined set of APIs that bridge legacy banking payment and account services to a modern and standardized interface that provides and supports:


  • Payment initiation, account information and funds confirmation
  • A diverse range of strong customer authentication methods
  • Re-use of an existing banking standard
  • Modern interfaces based on the newest technologies, such as JSON, RESTful and OAuth2
  • Secure banking resources using identification standards such as eIDAS


The PSD2 PWP is not just a quick fix, though: Its value proposition also includes providing the pillars of broader, long-term adoption of APIs, a move that will leverage the building blocks of innovation and support banks in their digital transformation initiatives.


What challenges have you faced in complying with PSD2? How have you beat those challenges? Get the conversation going below. And if you have questions about the PWP, feel free to contact me at

1 view