Press Release: Paris, 5th March 2021:
Today Open Banking Europe (OBE) and the European Third Party Providers Association (ETPPA) announced a Mutual Cooperation agreement had been signed to foster collaboration, enhance industry understanding and establish a framework for sharing information between the two organisations.
The Mutual Cooperation Agreement formalises and strengthens the interaction and existing relationship between OBE and the ETPPA at a strategic level, focusing on providing guidance and clarification on the operational aspects of PSD2 in Europe.
Both parties will work together on activities relating to TPP services under PSD2 Open Banking. This comprises research, statements, documents and webinars, as well as outreach to other organisations within the Open Banking ecosystem.
The agreement also provides for continued strengthening of future cooperation between OBE and the ETPPA in achieving common goals that will increase stability and help accelerate the Open Finance journey.
John Broxis, Managing Director, Open Banking Europe, stated: “This agreement builds on the extraordinary work we have done with the ETPPA in understanding the needs and concerns of TPPs, and bringing these to the attention of regulators and banks so that the successful implementation of Open Banking in Europe can continue.”
Ralf Ohlhausen, Chairman, ETPPA, commented, “Our cooperation with OBE over the past few years has been very fruitful already and we would like to strengthen this further given the many outstanding issues around Open Banking and the need for applying the lessons learned to Open Finance”.
About Open Banking Europe
Following a series of stakeholder consultations that started in 2016 to determine industry requirements, PRETA S.A.S. launched Open Banking Europe to build a PSD2 Directory solution to support PSPs and TPPs in meeting the PSD2 XS2A requirements. The Open Banking Europe Directory Services was released in January 2019, providing a single, standardised reference point for banks to accurately identify which TPPs are authorised to access their interfaces and which roles and services they are authorised to perform on behalf of their customers. Additionally, a Transparency Directory has been developed to help TPPs understand developer portals, and to help Account Servicing Payment Service Providers (ASPSPs) understand TPP brands.
Open Banking Europe continues to work with stakeholders on a range of initiatives to facilitate a greater understanding of Open Banking and enable collaboration between interested parties. Open Banking Europe is a wholly-owned subsidiary of Konsentus Ltd.
About the European Third Party Providers Association
ETTPA is the European trade association of bank-independent Third Party Providers (TPPs) under PSD2. It was established as a non-profit organisation in April 2019 to formalise the pre-existing Future of European Fintech coalition founded in 2017 to join the forces of non-bank TPPs. ETPPA represents the TPP interests vis-a-vis the EU authorities and across various European working and multi-stakeholder groups in support of creating an innovative and competitive level playing field for Account Information and Payment Initiation Service Providers (AISPs & PISPs).
If you want to know more about this area then we recommend the following stories on #DisruptionBanking:
#OBE #OpenBanking #ETPPA #PSD2 #TPP #PSP #OpenFinance #ASPSP