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A challenge to the technical standards underpinning the access to accounts provisions of PSD2 could see the already delayed legislation pushed back in to 2019 – a full year after PSD2 itself becomes law.


  • Fintechs say the RTS is in breach of both PSD2 and the General Data Protection Regulation in insisting on using APIs, and argue that the Direct Access method they have been using is better.

Features and Benefits

  • Compares the benefits of continuing to allow Direct Access with the restrictions of API access.
  • Learn how a simple ruling by the EC could avoid further delays and improve future account services.

Key questions answered

  • How valid are the arguments on both sides of the API debate?
  • How could the argument be easily resolved, to the benefits of all parties?

Table of contents

Ovum view

  • Summary
  • Open banking should mean open banking
  • Preserving the status quo is not good enough for either side
  • APIs are a better solution – if they can access appropriate data


  • Further reading
  • Author

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