BRUSSELS, 11 July 2017 – The European Parliament today hosted a breakfast meeting with representatives of consumer groups, financial technology firms, IT experts, banks and banking associations on the interaction between banks and third-party providers (TPPs) under the second EU Payment Services Directive (PSD2). Hosted by MEP Neena Gill (S&D, UK), the breakfast heard from representatives of the European Banking Federation, MoneyHub, UKFinance, the Berlin Group, BEUC, the European consumer organisation, the European Commission and the European Association of Cooperative Banks.
Interesting points by @davidgtonge CTO @moneyhubapp on the importance of having a common interface’s to encourage innovation #EBF #psd2 pic.twitter.com/srgaWfoteE
— Neena Gill MEP (@NeenaGmep) July 11, 2017
Hosting #EBF ‘Traditional banks have no divine right to handle payments. #Fintech sector can help innovate best products for consumer’ #PSD2 pic.twitter.com/dTq3pDgwDO
— Neena Gill MEP (@NeenaGmep) July 11, 2017
The EBF presented the following video to explain the importance of APIs, or Application Programming Interfaces, when it comes to future interaction of clients with their bank accounts.
Thx @NeenaGmep for hosting PSD2 WS. Imp. to understand what is @stake! APIs will open competition in safer & reliable way!Notscreenscraping
— de Brouwer S (@deBrouwerEBF) July 11, 2017
UK #fintech community united in approach to #openbanking via APIs, David Tong @MoneyHubUK tells PSD2 breakfast w/ @NeenaGmep in Brussels pic.twitter.com/zCPydrrAZS
— Raymond Frenken (@FrenkenEBF) July 11, 2017
Monique Gooyens presented the position of Beuc, the European consumer organisation, speaking out clearly against the use of screen-scraping:
#beuc is opposed to #screenscraping for #data #protection and #security reasons. Support #eba_News standard and strong #APIs pic.twitter.com/Q5xt7Gn4L0
— Elisa BevilacquaEACB (@bevilacquaeacb) July 11, 2017
The battle between #FinTechs and banks on consumer data is heating up – here’s what we think needs to happen https://t.co/lTU389yCqG pic.twitter.com/UNi8Kb4l6P
— The Consumer Voice (@beuc) July 6, 2017
EBF, EACB and the European Savings Banks Group (ESBG) presented a jointly held position on efficient and future-proof interaction between banks and third-parties under PSD2. Click here for the position document.
Related:
- 14 June 2017: EU FinTech consultation: put needs of end-users first
- 2 June 2017: Banks support ecosystem of interoperable APIs in EU
- 16 May 2017: EBF video: What is screen-scraping?
- 24 February 2017: European banks support innovation under PSD2
EBF media contact:
Raymond Frenken, Head of Communications, +32 496 52 59 47, r.frenken@ebf.eu
About the EBF:
The European Banking Federation is the voice of the European banking sector, uniting 32 national banking associations in Europe that together represent some 4,500 banks – large and small, wholesale and retail, local and international – employing about 2.1 million people.EBF members represent banks that make available loans to the European economy in excess of €20 trillion and that securely handle more than 400 million payment transactions per day. Launched in 1960, the EBF is committed to creating a single market for financial services in the European Union and to supporting policies that foster economic growth.
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