Sharing transaction risk data leads to Open Banking success

  • Milan Kaihatu Rob van Meijel
  • PSD2Open BankingCybersecurity

The revised Payment Service Directive Regulatory Technical Standards (PSD2 RTS) will require every bank to apply Strong Customer Authentication. This introduces unwanted friction in the process. A solution lies in Transaction Risk Analysis. In this article, we elaborate on three key points that need to happen in order for banks to make TRA more effective under PSD2.

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Open Banking and TPPs trigger banks to innovate their corporate onboarding processes

  • Josje Fiolet Esther Groen
  • PSD2Open BankingCorporate Onboarding

PSD2 has been an important catalyst for banks to open up. While many banks in Europe are still focused on making the PSD2 deadline of September 2019, we see some leading banks move beyond compliance and shift towards Open API Banking. In this emerging Open Banking play, banks start to understand that enabling secure access to customer data is the new money, an outstanding customer experience is pivotal, and trust is the primary condition.

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Mastering Open Banking: How the ‘Masters in Openness’ create value

  • Mounaim Cortet Art Stevens
  • APIPSD2Open BankingBenchmarkOpennessCustomer in Control
180926B OBM rating graph 2.0

The INNOPAY Open Banking Monitor covers the global state of play in Open Banking. It benchmarks 50+ banks on 4 core Developer Portal capabilities: API Catalogue, API Documentation, Developer Usability and Community Development.

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Unlocking opportunities in the API economy

  • Mounaim Cortet
  • PaymentsArticleAPIPSD2Open Banking

Market disruption, client evolution and regulatory change mean that the banking and corporate world is preparing for an API and Open Banking revolution. Making a success of it will require both collaboration and standardisation

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Third Parties and Corporate Banks: Digitally Transforming the Corporate Onboarding Process

  • Josje Fiolet Esther Groen
  • PSD2Open BankingOnboardingCorporate Onboarding

The concept of Open Banking and its potential grows steadily on corporate banks. PSD2 has been an important catalyst for banks in opening up, however, it forced them to focus on complying first, leaving little leeway to innovate beyond PSD2.

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Insurance and the Open Banking wave: seven use cases

  • Maarten Bakker
  • InsurancePSD2Open BankingInnovation

We observe that many insurers are currently at best exploring a new wave of Open Banking and risk falling behind. To help accelerate the strategic thinking of insurance companies in this emerging domain INNOPAY has used its expertise in PSD2, GDPR and Open Banking and defined several use cases. In this blog we address several of them and how they create opportunities in risk management, data exploitation and open functionality.

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INNOPAY Open Banking Monitor: Who are the Masters in Openness?

  • Mounaim Cortet Art Stevens
  • APIPSD2Open BankingBenchmarkOpennessCustomer in Control

Openness will become the new normal, as new regulations create the push and new technologies provide the enablers. INNOPAY has developed a benchmark comparing developer portals based on the Functional Scope of APIs and the Developer Experience. Developing state-of-the art developer portal capabilities will drive and accelerate your Open Banking strategy, learn from peers and see who is the Master of Openness!

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Banks should open-up beyond PSD2 to deliver on the innovation promise

  • Mounaim Cortet Vincent Jansen Luc van Oorschot
  • PaymentsArticlePSD2Open Banking

PSD2, and the concept of XS2A in particular, can be viewed as an important catalyst to accelerate change in payments, innovative banking applications and respective business models by leveraging payment functionality and account information, but might in itself not deliver on all its expectations. Open Banking can solve issues that follow from PSD2 and deliver on PSD2 XS2A’s promise of innovation through openness.

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INNOPAY introduces the INNOPAY Experience Lab

PSD2 and Open Banking strategies should go hand in hand and aim at being compliant while creating (or at least not blocking) growth potential for your business. However, a suboptimal PSD2 compliance strategy and implementation can result in the opposite by causing structural damage to your Open Banking potential and propositions. You have to get your initial approach and associated offerings right.

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Strategische Auswirkungen der Kundenkontrolle durch „Open Banking”

This blog forms the fifth in a series of blogs by Innopay Germany on “Open Banking: advancing customer-centricity”. The blog series will outline all relevant aspects with regards to „Advancing customer-centricity with Open Banking”.
This blog series is based on the Open Banking Information Paper “Open Banking: advancing customer-centricity “, which Innopay developed in close cooperation with the EBA Associations Open Banking Working Group.

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