PRETA, as part of its Open Banking Europe workstream , and ETSI (European Telecommunications Standards institute), have formally agreed to co-operate in the promotion and awareness of relevant standards, practices and legislations for their different stakeholder communities. This agreement takes the form of an MOU.
PRETA with its Open Banking Europe initiative supports the regulatory aims of facilitating innovation, competition and efficiency, giving consumers more choice and higher security for online payments in the EU. At the heart of this are the OBE directory services that build on the trusted identity services provided through elDAS qualified certificates and that will be a trusted reference for the industry for providing the trusted Authorisations of Third Party Providers (TPP).
ETSI and PRETA will support stakeholders for the authentication and authorisations of parties where the Authentication of parties will take place using eIDAS certificates (ETSI’s field of expertise) and Authorisation of parties will take place using the OBE directory (delivered by PRETA).
With the introduction of PSD2 access to account provisions, which reference the eIDAS standards, the world of payments meets the wold of certificates, security and cryptography in a new way. This MOU aims to build bridges between the communities involved in each area to ensure mutual understanding and harmonised processes.
March workshop on “eIDAS meets PSD2: Securing access to financial services with qualified certificates” laid the groundwork for this collaboration and was the opportunity to bring together different players involved in PSD2. Videos and presentations of the event can be found here.
The MOU between the parties will boost the organisation of several activities to encourage the exchange of ideas and co-operation.
PRETA is the wholly owned subsidiary of EBA CLEARING, the leading private provider of pan-European payment infrastructure solutions.
ETSI is the European Telecommunications Standards lnstitute that produces globally-applicable standards for Information and Communications Technologies.