Open banking using a standardized XS2A API
Under the Second Payment Services Directive 2 (PSD2), banks are required to allow a third party provider (TPP) authorized by the consumer to view account information and/or carry out certain actions, such as making a payment. This is done via banking APIs. Licensed service providers may also use these interfaces – with the permission of and on behalf of the respective bank customer – to access account data and analyze it in order to offer financial services products. By using the finAPI Access-to-Account (XS2A) interface, you do not need to worry about compliance with the PSD2 payment services directive. We have already done all the hard work for you.
How banks benefit from the finAPI PSD2-compliant XS2A interface
With its XS2A interface (Access-to-Account API), finAPI provides a proven technical solution for banks that makes it easy to comply with PSD2. Our PSD2 interface is based on the Berlin Group Standard, can be easily integrated into existing banking systems and is already being used successfully by many banks and financial service providers.
You can find out how DKB successfully completed the switch and what opportunities the partnership with finAPI offers for the future in our joint press release “DKB integrates XS2A server from finAPI: successful switch and future-proof partnership”.
XS2A INTERFACE FOR BANKS
Focus on what you do best
- Save internal resources and concentrate on your core business. finAPI takes over the implementation of regulatory requirements for your bank.
- Use finAPI's know-how to help your business. finAPI has many years of experience with banking APIs, XS2A server and accessing and analyzing bank account data.
- Fast and easy integration. Offer a PSD2-compliant API in the shortest possible time.
- finAPI supports the connection to existing banking systems with a standard specification.
- Der XS2A-Server entlastet Banken von prozessualen Aufgaben wie dem Einwilligungs- und TPP-Management.
- Experienced finAPI employees are ready to support you during implementation as well as in the ongoing project.
- Reliable TPP support: finAPI provides full support for TPPs on request.
- The XS2A server also supports the connection of credit cards and thus goes beyond the minimum requirements of PSD2.
Open Banking
Functions of the finAPI XS2A interface for banks
With the finAPI PSD2 XS2A interface, there are a range of different functions that can be purchased individually and in any combination.
TPP authentication and authorization
finAPI takes care of authorizing the access requests of third party providers (TPP), e.g. by cross-checking with relevant authorities. Requests are only forwarded to internal bank systems after successful verification.
XS2A API interface and documentation
finAPI provides a REST API for TPPs to retrieve account data and initiate payments.
For banks, all components required for implementation and a sandbox environment are provided within 24 hours.
Developer portal
finAPI provides a comprehensive developer portal to help TPP connect to the XS2A API for account access. The portal includes help articles as well as answers to the most frequently asked questions.
Test environment with test data
finAPI provides a sandbox including demo data for testing the XS2A interface for banks.
Banks can carry out end-to-end tests in the integration environment without their own certificate. finAPI provides a QWAC certificate (Qualified Website Authentication Certificate) for this purpose.
Developer support
Banks are obliged to provide technical support to requesting TPPs when using the XS2A API. If requested, finAPI will provide support for technical requests from TPPs.
Rights management - TPP listing and blocking
Simple services provide release lists and allow your customers to block TPP access after the fact.
Strong customer authentication (SCA)
finAPI supports all common methods of strong customer authentication – whether redirect, embedded or decoupled, Push-TAN or SMS-TAN.
Reporting and monitoring
finAPI offers comprehensive services for internal and external reporting, as well as for monitoring of systems. Our monitoring is sufficient for you to apply to BaFin for an exemption from carrying out your own monitoring.
Already "PSD3-ready" today
finAPI consistently keeps an eye on the market in order to improve and further develop the interface – accordingly, the XS2A server has already been designed in such a way that it can be easily expanded to meet future regulatory requirements (PSD3/PSR/FIDA).
Contact & advice
Contact us for more information!
Would you like to find out how our XS2A server can make your banking system future-proof? We would be happy to advise you personally!
Contact us
finAPI GmbH
Adams-Lehmann-Str. 44
80797 München
BaFin
Officially licensed and supervised by the German Federal Financial Supervisory Authority (BaFin).
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