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The NextGenPSD2 Framework in a pan- European PSD2 Account Access context
Journal of Payments Strategy & Systems,
13
(1),
54-65
(2019)
Abstract
European regulators have promoted increased innovation and competition in the retail payments market and now require banks to allow third-party providers access to online accessible bank accounts (XS2A). Based on the legal requirements and differences in national jurisdictions, the Berlin Group NextGenPSD2 has stipulated that pan- European XS2A interoperability requires harmonised standards and an open governance model for the creation of such standards. This paper describes the background and details of the harmonisation achieved within the NextGenPSD2 Framework, as well as implementation coverage and future evolution of this framework. The authors argue that the harmonised technical standardisation offered by NextGenPSD2 will help European market players to build new use cases, business models and schemes.
Keywords: PSD2 XS2A; NextGenPSD2; harmonised standardisation; open governance; APIs; NISP; value-added services
The full article is available to subscribers to the journal.
Author's Biography
Ortwin Scheja is Managing Consultant at SRC Security Research & Consulting and is an editor and moderator of Berlin Group NextGenPSD2 and NISP. He has more than 20 years of experience and expertise in conception and implementation of complex transaction systems, in interbank card processing, clearing systems and scheme services, and in retail-banking IT standardisation at a European and international level. He holds a PhD and a master’s degree in mathematics and computer science from Saarland University, Saarbrücken.
Wijnand Machielse is European Markets Director at SRC Security Research & Consulting and is an editor and moderator of Berlin Group NextGenPSD2 and NISP. He has more than 20 years of experience and expertise in conception and implementation of complex transaction systems, in interbank card processing, clearing systems and scheme services, and in retail-banking IT standardisation at a European and international level. He holds a master‘s degree in computational linguistics from Utrecht University.
