Open Banking Europe is an initiative developed by PRETA, EBA Clearing’s subsidiary
created in 2013 to develop and innovate market competitive services in digital
payment and identity solutions.
EBA CLEARING & PRETA have been delivering successfully with banks in Europe for over 10 years.
PRETA has ability to reach all countries in the EU today, through existing relationships, trust and operational branches.
Our experts are connected within EU for interfaces, Regulatory Practices, and International Standards Organisations.
Design Decisions made by consensus and priority, so Europe’s stakeholders can agree on standards before we all build XS2A.
The term “Open Banking” generally refers to the way in which Banks can expose data and services via interfaces (generally APIs) to service providers or third parties who act on behalf of the customer who owns the account.
Open Banking in Europe is being pushed by the European Commission as part of a digital agenda to open up services, provide choice and competition, and allow innovation in the market.
Achieving regulatory compliance is not trivial. Institutions must be aware of the PSD2 itself, eleven different Technical Standards and Guidelines published by the EBA, technical concepts around APIs and Certificates as well as related regulations (eIDAS and GDPR) not to mention national transposition timelines, and national register formats.
The European Retail Payments Board (ERPB) has raised concerns about interoperability as well as coming out with several recommendations.
Open Banking Europe provides :
For clarity, Open Banking Europe does not provide API standards or API software.
On behalf of OBE Stakeholders, PRETA engages with:
Taking topics and turning them into digestible formats for all PRETA OBE Stakeholders to read, absorb and baseline, enabling common approaches and standardisation reviews on the PRETA OBE data, services and industry models.
Agile design: PRETA Open Banking Europe creates demo data, services and UI tools to help articulate concepts and models more
clearly for all audiences. All Stakeholders can get beta play and test’, to make sure all actors are aligned.
Continuous Updates, education and Group sessions in order to ensure that each Stakeholder has the same level of information as each other and can make informed decisions for review or group sign-off.
Standards publication in 2018.