Protect Your Business.
Know your Partner.
We understand that an increasingly Open World means increased risk for Open Banking and Open Finance providers. Regulation is also moving at speed, with different markets at different stages – meaning you need a platform that informs just as quickly.
Under PDS2 regulation, Account Servicing Payment Service Providers (ASPSPs) can only refuse a Third Party Provider (TPP) access request if it has been classified as a potential fraud risk. Given that ASPSPs (banks) are generally not contracted to TPPs, this creates a risk gap. It’s vital to understand the real-time financial crime and reputational risks posed by TPPs when granted API access enabling you to build and safe TPP relationships.