Financial software provider Allevo and open source integration vendor WSO2 have partnered up to deliver an open banking solution in Romania.
Their collaboration will be to provide an open banking solution to one of the big commercial banks in the country, which they pledge will be compliant with the Revised Payment Services Directive (PSD2).
The solution will enable the bank to centrally manage requests from third-party providers. Seshika Fernando, head of financial solutions at WSO2, said he was “delighted by the partnership with Allevo which allows us to bring open banking closer to the Romanian market.” He added, “We look forward to working together and joining forces to provide banks in this region with open banking experiences at another level.”
The final part of PSD2 is set to be implemented on September 14 and will see the introduction of the new strong customer authentication rules. These rules will mean suppliers are now forced to ensure clients paying electronically really are who they say they are.
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