🎧 What’s coming with PSD3 and the new Payment Services Regulation (PSR)? – What´s changing in Open Banking. Tune in now!
Open Banking under PSD3 and PSR – what’s changing?
In this episode, Dana Wondra from Payment & Banking talks to Peter Frey, lawyer at Annerton and expert in payment services, about the regulatory changes in Open Banking introduced by PSD3 and the PSR.
The focus is on the relationship between account-servicing banks and third-party providers – particularly account information services (AISPs) and payment initiation services (PISPs). Going forward, more specific requirements will apply: banks must provide APIs, publish technical documentation, set up test environments, and offer their customers a permission dashboard to manage access rights.
At the same time, the rights of third-party providers are being strengthened: account-servicing banks will no longer be allowed to impose additional registration requirements or other access barriers.
Peter Frey also puts these regulatory developments into the broader context of Open Finance: while the upcoming FIDA Regulation will govern access to broader financial data, PSD3 and the PSR remain the key legal framework for accessing payment account data.
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