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Payments & FinTech Lawyer

Opinion: why dedicated interfaces are the only viable answer to PSD2 customer account access

A controversial issue concerns the European Banking Authority’s (‘EBA’) Regulatory Technical Standards (‘RTS’) on Strong Customer Authentication and Common and Secure Communication, to which the European Commission has now responded by proposing amendments, and specifically the access to customer bank accounts that Account Information Services (‘AIS’) and Payment Initiation Services (‘PIS’) will have. Specifically, the draft RTS would ban access to customer bank accounts via the practice of screen scraping, with dedicated interfaces being the only way to gain such access; the Commission meanwhile has proposed that if such dedicated interfaces fail, there should be a ‘fall back’ option available, which some have suggested would be akin to an enhanced form of screen scraping. Here, Diederik Bruggink, Senior Adviser Payments at the European Savings and Retail Banking Group, provides his opinion on the debate, arguing that dedicated interfaces are the only viable option.

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