As part of the Open Banking, PSD2 requirements, banks must open for their API, Open API,
to Providers where they will be provide services to bank customers.

PSD2: rev. Payment Services Directive – TPP: Third Party Payment Providers

Payment Services Directive (PSD2) – Brussels, 27 November 2017

The Service Providers will via API connection will offer Services eg Payments or account information etc.
see PSD2 Infographic |

PSD2 explained in 3 simple gifs

psd2 list – Mark Boyd
Third-party authentication
Third party access to payments
Third party access to account information
Fees transparency
Fine grained entitlements
API versioning
OAuth or other delegated authentication schemes
Step up authentication strategies
Fraud and penetration attempt monitoring
Supporting tooling for developers and DevOps
Performance management to protect core banking
API Explorers for discovery and interaction
Interactive API documentation
Unique IDs (e.g. Bank ID, Account ID, Transaction ID)
Flexible entitlements to enable data sharing and better transparency

PSD2 explained in 2 minutes

What is PSD2

PSD2 demo with Instant Payments and API economy

PSD2 Demo App

Open Banking & PSD2: How regulation is shaping the future of banking

PSD2 paradox