PSD2 Enabler for corporate customers

Get PSD2 capability
to be fully compliant with the directive

PSD2 Enabler

The new Payments Service Directive 2 (PSD2) directive, which is supposed to create greater transparency and competition in the market, forces banks to set up processes and open APIs that allow third parties to access the data of their customers. The PSD2 directive obliges banks to allow third parties to perform payment initiations and to use account information services on behalf of the customer.

The PSD2 Enabler helps banks with MULTIVERSA banking products to meet all legal requirements of the PSD2 directive quickly. It provides a publicly accessible PSD2 API, which grants Third Party Providers (TPP) access to Account Information Services (AIS) and Payment Initiation Services (PIS). The system enables secure connection to the internal bank systems for fetching and providing the required data, handling connectivity data and certificates for TPP validation and logging and auditing processes.

  • PSD2-compliant
  • User-friendly
  • Secure
  • Future-proof
  • Seamless integration

The PSD2 Enabler is a component of the payment and cash management solution MULTIVERSA IFP. It provides a PSD2 gateway that supports the use cases “payment initiation”, “account information” and “confirmation of funds” from other banks or TPPs.

The PSD2 Enabler is embedded in MULTIVERSA IFP and uses proven functionality such as provision of balance and account data, validation, acceptance and forwarding of payments. It creates and manages the consents and tracks their validity incl. certificate handling for TPP validation, access validation of TPP requests and – if necessary – strong customer authentication based on various available security mechanisms.

An API management tool, like WSO2 API Manager is integrated in the solution to provide further API-related functionality, such as publishing, lifecycle management, security, reporting and usage analytics.

The PSD2 Enabler supports the API set as defined by the Berlin Group and can be called via web services (RESTful/JSON). It enables a version control of the external API set so new functionality can be added to the external API without compromising existing interfaces to internal channels.

PSD2 is only one of many domestic and international legal requirements and standards that we watch every day to provide up-to-date products in our markets. We are part of the working groups of EBA and other directive committees. Let's talk about upcoming requirements from PSD2, EBICS, SEPA or others.

Joachim Blank
Vice President, Product and Customer Manager at CoCoNet

Request a meeting with Joachim