Norwegian bank Sbanken has selected Nets’ access to account services to provide its customers with access to all their bank accounts through one platform.
In response to the Payment Services Directive which went into effect in January last year, Sbanken has enlisted the Danish company’s single integration solution to gain access account information held by European banks.
PSD2 requires banks to provide authorized third parties with access to accounts information and facilitate payment initiation services.
The regulation includes requirements such as the need for real-time 24/7 support for open Application Programming Interfaces (APIs) and messages, scalability to deal with the higher transaction volumes, and enhanced security and authentication.
Sbanken CDO Christoffer Hernæs said, “Taking an offensive position and leveraging PSD2 as a business opportunity is a top priority for the bank, as most Norwegian customers on average use more than one bank.
“By connecting to other Norwegian banks, we enable our customers to perform their top tasks such as getting a full overview of their financial health and paying their bills as easy as possible. Sbanken has chosen Nets since their platform provides easy access to the full market through one unified connection.”
Last year, Temenos teamed up with LUXHUB, a European open banking API platform, to create a PSD2 solution for banks.
