Banco Carregosa implements aplonAPI to aid PSD2 compliance

Portuguese bank Banco Carregosa has formed a deal with Payment Components & Infosistema to support PSD2 compliance.

Through the partnership, Banco Carregosa will gain access to the API Management Platform, aplonAPI, supporting both its PSD2 compliance and its open banking efforts.

aplonAPI, which is developed by Payment Components, provides financial institutions with an open architecture to empower integration and accessibility for new opportunities. Banks can utilise the service to build, manage and distribute their APIs.

In addition to a sandbox to test and implement new APIs, the platform provides an authentication tool to ensure transactions are secure, account reporting services to automate customer reconciliations, and payment tools for mass, single or mobile transactions.

Pepper, the mobie banking division of Leumi Bank, recently released a study on thoughts of C-suite and director level decision-makers at retail banks towards PSD2.  The report found 58 per cent of respondents felt PSD2-led Open Banking regulation has had a ‘negative’ impact on their organisation.

Earlier this week, Bank Leumi (UK) picked Volante Technologies so support it with compliance of PSD2 and enable open banking models.

With the final deadline for PSD2 edging closer, a number of banks are integrating solutions to aid with their compliance. RegTechs are also working hard to aid the market, with Fiorano recently launching a PSD2 sandbox to help institutions test solutions.

Avaloq, a digital banking and wealth management software developer, also launched a suite of dedicated PSD2 solutions to help financial institutions capitalise on open banking.

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