Eurobits Blog

Banks and third-party providers agree on joint efforts regarding the transition to new payment rules

26 julio, 2019


Joint statement of European Credit Sector Associations (ECSAs) and Third-Party Provider associations on PSD2 rules applicable on 14 September 2019

Brussels, 26 July 2019 - Today, the European Banking Federation (EBF), the European Association of Co-operative Banks (EACB) and the European Savings and Retail Banking Group (ESBG), known collectively as the European Credit Sector Associations (ECSAs), on the one side and the European Third Party Providers Association (ETPPA) and the Financial Data and Technology Association (FDATA) on the other side, formulated a Joint Statement to smoothen the transition to the new security and communication standards that will be applicable from 14 September 2019 within the framework of the revised payments services directive (PSD2). The statement covers a series of communication and information related commitments to improve the interactions between banks and Third Party Providers (TPPs) regarding the implementation of the new standards.

The parties to the statement reasserted their full commitment to the objectives of PSD2 which will create a more secure, innovative and competitive payments landscape with stronger consumer protection. The successful implementation of the PSD2 framework aims to create a vibrant market for payments in the European Union opening up new opportunities for all the players involved.

Representatives of the banking sector stressed that with this statement the banking industry is sending a strong signal about its willingness to make PSD2 a success. According to them, the objective of this initiative is to put forward joint solutions to facilitate as much as possible the implementation of PSD2. TPP representatives highlighted the need to ensure full business continuity of TPP-provided services to the benefit of European consumers, merchants and corporates.

Both parties also call on the National Competent Authorities to use the possibilities given to them within the law to the maximum extent possible to help avoid unintended customer detriment.

The statement resulted from a continued dialogue between representatives of the two third party providers associations and the three ECSAs overseen by the relevant EU authorities including DG FISMA and DG COMP of the European Commission as well as the European Banking Authority. The parties to the statement will monitor the progress made on a best effort basis until the 14 September 2019.

Arturo González Mac Dowell as Chair of the ETPPA and President and CEO of Eurobits Technologies, states: “We have often underlined the importance of the contributions PSD2 implies for the consumer and the industry, in terms of innovation, consumer experience and integration. The introduction of such a drastic change as PSD2 RTS requires a strong will to cooperate among TPPs, banks, supervisors and industry players. This agreement reflects the will to make it a success”


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About Eurobits:

Eurobits Technologies, founded in 2004, is the European pioneer of Account Aggregation Services. Our mission is to transform the way people and business interact with Financial Services. We are a certified Account Information Services Provider that operate a white label bank account aggregation platform that is now performing over 50 million transactions on a monthly basis across Europe and Latin America.  





ETPPA Contact:


About the ETPPA:

The ETPPA is a European trade association of non-bank third party providers. It was established as a non-profit organisation in April 2019 and formalised the pre-existing Future of European Fintech (FoEF) coalition founded in 2017 to represent the interests of bank-independent third party providers. Its founding members are Bankin’, Eurobits, PPRO, Klarna/Sofort and Trustly. 




FDATA Contact:

Andy Maciver (Tel.: +44 7855 261244),


About FDATA:

The Financial Data and Technology Association (FDATA) was established in Europe to advocate for Open Banking in 2013, during the negotiations to add account aggregation to PSD2, and then formally incorporated in 2014. It is a member organisation, is not-for-profit and has a charter to develop open secure market access to innovation across all financial verticals, including payments and payments data, but also loans, mortgages, savings, investments, pensions and insurance. Customer access to these financial verticals via Third Party Providers is described collectively as Open Finance.


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EACB Contact:

Marieke van Berkel (Tel.: +32 (0)2 230 11 24),


About the EACB:

The European Association of Co-operative Banks (EACB) is the voice of the co-operative banks in Europe. It represents, promotes and defends the common interests of its 28 member institutions and of co-operative banks in general. Co-operative banks form decentralised networks which are subject to banking as well as co-operative legislation. Democracy, transparency and proximity are the three key characteristics of the co-operative banks’ business model. With 4,050 locally operating banks and 58,000 outlets co-operative banks are widely represented throughout the enlarged European Union, playing a major role in the financial and economic system. They have a long tradition in serving 210 million customers, mainly consumers, retailers and communities. The co-operative banks in Europe represent 79 million members and 749,000 employees and have a total average market share of about 20%.


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EBF Contact:

Anni Mykkanen,

Raymond Frenken, (Tel.: +32 (0)2 508


About the EBF:

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.


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ESBG Contact:

Diederik Bruggink (Tel.: +32 2 211 1192),


About ESBG:

ESBG represents the locally focused European banking sector, helping savings and retail banks in 20 European countries strengthen their unique approach that focuses on providing service to local communities and boosting SMEs. An advocate for a proportionate approach to banking rules, ESBG unites at EU level some 1,000 banks, which together employ 680,000 people driven to innovate at some 50,000 outlets. ESBG members have total assets of €5.4 trillion, provide €500 billion in SME loans, and serve 120 million Europeans seeking retail banking services. ESBG members are committed to further unleash the promise of sustainable, responsible 21st century banking.



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About AEFI:

Our main objective is to create a suitable environment that promotes and encourages the growth of FinTech and InsurTech startups in Spain. In order to achieve this, we work on communication and collaboration with the relevant organisations and agents involved.

We represent FinTech companies through vertical groups, led by coordinators who are specialists in their field. We have a research area, which enables us to share best practices and to create projects that make the sector more dynamic.


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