Due to the EBA’s Regulatory Technical Standards (RTS) that apply from 14 September 2019, banks will need to provide PSD2-compliant APIs by that date.
Banks that are not fully compliant with PSD2 will need to offer a "contingency mechanism" for Third-Party Providers. The EBA has provided guidelines on what that contingency mechanism is and how banks can request one for themselves.
In other words, this means that a bank that is not granted an exemption by their local competent authority (for example, the FCA in the UK), from providing the contingency mechanism by 14 September, will still work with Credential Sharing until there's a dedicated PSD2 compliant API.
What to do next?
- Consider using the Open Banking version of your connector. You can see what endpoints are supported by each connector here.
If you need more information...
Check more information about the PSD2 deadlines here.