NextGenPSD2: More than 1700 banks have met the first regulatory PSD2 deadline on time

More than 1700 banks and API providers cooperating in the NextGenPSD2 Implementation Support Programme (NISP) managed to provide a sandbox testing environment for Third Party Providers (TPPs) on the first major regulatory deadline on 14 March 2019, so that TPPs were able to start testing the NextGenPSD2 implementations to connect to banks.

25 European organisations participate in the NextGenPSD2 Implementation Support Programme (NISP, www.nisp.online), representing more than 1700 banks within the Single Euro Payments Area (SEPA). NISP aims to support banks and API providers in implementing the Berlin Group NextGenPSD2 Framework, one of the outstanding and open pan-European standards enabling TPPs to access bank accounts (XS2A) under the revised Payment Services Directive (EU 2015/2366, also known as PSD2). NISP is covering a large part of NextGenPSD2 implementations in Europe (ref. Appendix – Notes for editorial staff).

An important NISP component is a common Testing Framework deliverable, simplifying interoperability testing, rendering maintenance efficiencies and also taking care of the different variants and options that might arise in implementation. The common Testing Framework is expected to deliver an enormous help to the whole industry, due to the subsequent reduction in actual testing efforts for both banks and TPPs, while aiming to support and ease the efforts of national supervisors and the European Banking Authority (EBA) in evaluating the API implementations on time. This will contribute to a fast-growing and mature market of NextGenPSD2 access to account services, available for the benefit of European consumers and businesses alike.

Banks were facing the important regulatory requirement to offer testing facilities to TPPs from 14 March 2019, 6 months before the EBA Regulatory Technical Standards (RTS) come into force on 14 September 2019. As an important deliverable within the NISP common Testing Framework, NISP has defined the functional requirements for a sandbox test environment for integration testing by TPPs. As additional benefit to TPPs, NISP also provides a common list of sandbox details of the participating banks. The related documents are available to registered TPPs (ref. https://nisp.online/tpp-registration/).

Till 14 March 2019, more than 1700 banks organised in NISP had put their sandbox testing environments live, allowing TPPs to start testing. In the near future, the NISP project will further extend the test information. Furthermore, NISP will monitor upcoming testresults and enable a pan-European view on the status of testing between TPPs and banks for PSD2 XS2A.