Unlock the open banking ecosystem to go beyond compliance

We offer a comprehensive solution with 75+ ready-to-use integrations and a proven track record of 1B+ API calls executed across 80 countries. Combined with strong API governance and a developer portal/sandbox, banks can meet PSD2 requirements and prepare for PSD3 and PSR.

With 200+ low-code/no-code connectors and prebuilt APIs, implementation is significantly faster than traditional approaches. This helps in reducing time-to-market by 60–70%. A developer portal and sandbox streamline onboarding, testing, and certification.

PSD3 is the EU’s Third Payment Services Directive, proposed alongside the Payment Services Regulation (PSR) to update and replace PSD2 and modernise the EU payments rulebook. Compared with PSD2, the PSD3 and PSR package strengthens fraud prevention and consumer protection, including wider use of Verification of Payee (IBAN and name checks) and clearer reimbursement and liability rules for certain fraud scenarios.

It also upgrades open banking rules by requiring clearer user control over permissions (including a permission dashboard to view and withdraw access), removing common obstacles for third party providers, and setting stronger expectations for interface performance and continuity.

PSD3 strengthens consumer protection and reduces payment fraud by making Verification of Payee mandatory for credit transfers, so payers are alerted when the payee name and the account identifier do not match and, under the political agreement, the payment must be refused in case of a mismatch. If a payment service provider fails to apply required fraud prevention measures, it can be liable for customer losses, strengthening reimbursement outcomes in specific scenarios. PSD3 also improves transparency by requiring statements to include information that clearly identifies the payee, helping users recognise payments and spot suspicious activity faster.

PSD3 increases expectations for reliability, monitoring, and incident readiness across payment services and APIs, including third-party dependencies. Banks must demonstrate stronger operational controls, faster detection of issues, and clearer accountability across the payment chain.

PSD3 merges the licensing frameworks for PIs and EMIs, removes redundancies, and simplifies supervision. Non-bank institutions also receive better access to payment systems, which historically were controlled by banks. This reduces barriers and accelerates fintech innovation.

Yes. All PSPs must implement verification of payee services for credit transfers. When the payee’s name doesn’t match the IBAN, the payer must be warned before confirming the transaction. This applies to both instant payments and standard SEPA transfers.

PSD3 requires clearer consent screens, centralized permission dashboards, transparent explanations of data access, and higher API reliability. Together, these measures create a more intuitive, trustworthy, and consumer-friendly open banking experience.