On March 14, Salt Edge released 60+ PSD2 sandboxes, after building them for the financial institutions in a couple of weeks time. The launch of these sandboxes for third party testing enabled the ASPSPs to meet the first major PSD2 deadline.
PSD2 and the RTS on SCA & CSC impose all providers of payment accounts (ASPSPs) to make sandboxes available to third party providers (TPP) for connection and functional testing of their applications. While some institutions decide to build the sandboxes and the whole PSD2 compliance solution in-house, others collaborate with experienced technical service providers for reducing the implementation cost & time and increasing efficiency.
Salt Edge specializes in building APIs for PSD2 compliance solution for banks, eWallets, and any entity that supports payment accounts and falls under the Directive’s scope.
The company has recently released more than 60 PSD2 API sandboxes for banks and eWallets in countries like the UK, France, Sweden, and Spain. Some of the institutions deploying Salt Edge sandboxes are Bank of East Asia, Guaranty Trust Bank, and Sodexo. The sandboxes are enabled for account information & payment initiation testing and come with a set of dashboards for the ASPSP and TPPs, detailed documentation for seamless TPP testing, and more.
The PSD2 sandboxes are built quickly and in compliance with the RTS requirements, and they meet the European communication standards for effortless TPP testing. Launching such a sandbox for testing and gathering feedback from TPPs are part of the requirements to be met by ASPSPs that want to be exempted from providing a contingency mechanism under Article 33(6) of the RTS on SCA & CSC. Salt Edge will be assisting interested ASPSPs on the path for applying for this exemption.
“With Open Banking gaining traction in Europe and beyond, Salt Edge strives, more than ever, to build better technology for financial institutions so they can securely and freely interact with each other,” said Dmitrii Barbasura, CEO at Salt Edge.
About Salt Edge
Salt Edge is a global fintech company offering a range of cutting-edge solutions to financial institutions, banks, finapps, and other fintech companies. The company is registered as Account Information Service Provider by the UK’s FCA, under PSD2. Among its most popular services are financial data aggregation API, open banking and PSD2 solutions, white label retail banking, and data enrichment. ISO 27001 certified, the company employs the highest international security measures to ensure stable and reliable interoperability channels between financial institutions and their users. Connected to 3100+ financial institutions in 61 countries, Salt Edge brings comprehensive financial data at the fingertips of hundreds of thousands of end-users on a daily basis.
More information: www.saltedge.com
Phone number: +1-437-886-3969