PSD2
The European Union's Payment Services Directive, which requires banks to open account data access to third parties (open banking) while strengthening the security and compliance requirements for user authentication and data sharing.
Timeline (last 90 days)
The US GLBA and the EU PSD2 set dedicated compliance thresholds for financial data sharing.
Open banking APIs are technical interfaces that allow third-party applications to directly access bank account data with user authorization, and have been gradually adopted in regions including the EU, the UK, and Australia.
All Facts (3)
The EU's PSD2 officially came into effect in 2018, mandating that banks open payment account data to licensed third parties.
60%UnverifiedThe US GLBA and the EU PSD2 set dedicated compliance thresholds for financial data sharing.
50%UnverifiedOpen banking APIs are technical interfaces that allow third-party applications to directly access bank account data with user authorization, and have been gradually adopted in regions including the EU, the UK, and Australia.
50%