PRETA says that over 40 major European financial institutions and service providers have signed up to fund and complete PRETA’s pan-European PSD2 Open Banking access directory.
With the delivery of this directory, PRETA’s Open Banking Europe initiative is answering to the market need for a single, standardised, trusted and machine-readable repository of regulatory data related to third-party providers (TPPs).
The directory is an important element in enabling access-to-account (XS2A) services. It will also provide operational data for all regulated account-servicing payment service providers (AS-PSPs) and TPPs in Europe as well as data on qualified trust service providers (QTSPs), which issue the PSD2 eIDAS certificates needed for the identification of TPPs.
PRETA was created in 2013 to develop and innovate services for digital payment and identity solutions. The company is a wholly-owned subsidiary of EBA CLEARING, currently owned by 51 shareholder banks.
“The strong support of our initiative by some of the largest financial institutions, covering all the countries in Europe, shows the vital need for a common and collaborative directory that combines the information from the different national repositories and makes it available in a way that is easy to access and process,” said John Broxis Managing Director of PRETA.
“The effort required to understand 31 national registries, each holding multiple types of payment service provider information, should not be underestimated, but when you work together and jointly shoulder the effort, the task becomes much easier.”