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Open Banking and the APIs Driving the New Era of Instant Payments

Open Banking has revolutionised the payments sector in recent years and we’re in an exciting period for FinTech innovation. Set up to facilitate the vision of PSD2 in the UK, the Open Banking organisation encourages the use of APIs to access data from the UK’s main banks to provide innovative financial products and services for consumers and businesses. In this blog, we explore how these APIs are driving a new era of instant payments.

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How Validate Data Manager Helps Businesses to Comply with Payment Services Regulations

 
In today’s modern payments space and Open Banking era, businesses need to ensure that they remain compliant with new payment services regulations. The new Directive on payment services (PSD2) was introduced to standardise communication between banks and third-party service providers (PISPs and AISP) while harmonising and bolstering the authentication process.

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