PRETA, a developer of digital payment and identity solutions, has released the onboarding process for its Open Banking Europe (OBE) directory.
The OBE is a pan-European, centralised and machine-readable repository for regulated entities which conduct access-to-account (XS2S) services in Europe. It is open to account servicing payment service providers (AS-PSPs) and their service providers, supplying them with PSD2 access-to-account compliance.
In addition to pooling information from different national registers, the directory also holds operational information. This helps give more transparency to third-party providers, AS-PSPs.
Open Banking Europe is an initiative launched in 2017 with the goal of nurturing innovation, competition, and efficiency to boost customer choice and bolster online transaction security across the EU. It aims to do this by bringing market players together and provide a standardised source of information with regulatory and operational data to help PSD2 access-to-account compliance.
It was launched in January and covers all national registers which are currently available for verification requests – the remaining will be added once the respective national transpositions are completed.
PRETA/Open Banking Europe managing director John Broxis said, “The completion of this work marks a major milestone in the journey towards PSD2, and it has only been possible with the support of over 40 participants around Europe as well as ongoing dialogue with National Competent Authorities across Europe. The road to PSD2 Access to Account is long and a centralised directory will provide interoperability between the various market participants.”
The OBE also works to give operational data transparency to TPPs, supply a QTSP engagement group, and boost common understanding of eIDAS certificates.
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