Modulr delves into Open Banking APIs, outlining the potential for a European-wide API standard in

So, I’m guessing you’ve heard of this thing called Open Banking. Its proponents often paint a vivid picture of financial utopia where lending decisions, mortgage approvals, payments and other financial services are more personalised and data-driven.

Almost three months have passed since the revised Payment Services Directive, or PSD2, was scheduled to be implemented into national law by EU member states. PSD2 provides the framework for registered non-bank third-party providers, or TPPs, to provide new payment initiation and account information services by opening access to customers’ bank account information.

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