The Fiorano PSD2 Solution

The Revised Payment Services Directive (PSD2) is a mandate of the European Union (EU) that enables business and consumer banking customers to use third-party providers to manage financial transactions. It requires banks to provide third-parties, including Payment Initiation Service Providers (PISPs) and Account Information Service Providers(AISPs) access to their customers’ accounts through open APIs. Third-party providers will have access to customer account information and can initiate payment processes on a customer’s behalf. This expands partnership opportunities for banks by combining services with FinTech application provider companies to create new value chains and a new experience for customers.

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