KAL, a world-leading provider of banking software, is delighted to announce the launch of its new open banking technology designed to help banks comply with the new Second Payment Services Directive (PSD2).
PSD2 has transformed the European financial sector, establishing what is widely known as Open APIs (application program interfaces) for banking. PSD2 aims to increase competition and transparency in the European payments market, improve access to accounts and bolster internet banking security.
What about banks?
From January 2018, EU banks must have implemented PSD2 APIs to ensure they are compliant with PSD2 and can play a key role in this new banking landscape. For banks to thrive in this open market, it is vital they implement an Open API enabling third parties to access customer data securely using SCA (secure customer authentication).
How KAL can help
KAL, a trusted provider of transaction software to banking giants around the world, will supply core technology to enable banks to achieve PSD2 compliance with its secure, scalable and cost-effective open banking solution, KTH for PSD2. This is just one of several technologies being launched by KAL as part of its KAL-Payments initiative.
KAL’s KTH for PSD2 product enables banks to implement that essential API and to provide PSD2-driven services to customers from other banks.
KAL has a long, successful history of providing highly scalable, secure transaction processing software to banks. Now banks can leverage our expertise in delivering highly complex systems within the new PSD2 landscape and achieve compliance in a timely, cost-effective way. This will help banks stay ahead of the competition and meet the regulatory mandates. Steve Hensley, Executive Vice President of Sales, KAL
For more information about how KAL's KTH for PSD2 product can help your business, contact us here.