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Alex, I agrree, the OPC shoud also provde access to the PSD2/Open Banking party to those developers that would otherwise de excluded by cost & timescale required to obtain the relevent licence approval.

With the publication of PSD2 RTS this week and the widenting of the scope of UK Open Banking, the OPC looks to be in the sweet spot for implementing the innovation that these new regiulations enable.  

First Direct (HSBC) offer a similar service via old fashoned account aggregation for the past few years. Sadly it was tied to IE/ActiveX and I can no longer use it.

I guess they did not invest in this as "screenscraping" looks to be banned in the new world.

I wonder how many of their custemr used "Internet Banking Plus" and how many will use the new service?

@Finextra Member - Even though the Spagehtti code may be encapsulated in the boxes, history shows that the interfaces are usually far from simple and data is often duplicated across lagacy systems.

The model does show the potential for simplification.

The picture looks far too neat with too many straigh lines - where have they hidden all thes paghetti code?

When asking for directions, one common reply is "I wouldn't have started from here".
Given we are where we are, the cards model seems fit for purpose for retail payments, and instant "push" payments have a major hill to climb.
Key for me is a simple confirmaion of payment that a retailer can easly see and believe - There is an obvious opprtunities for "overlay" services to help fill this gap.  

This is an excelelent analogy to the current spat over APIs.

I have used account aggregation services without a problem for almost as long as Internet banking has existed, but since Windows 10 Edge replaced Internet Explorer none of my services seem to work without ActiveX.

We seem to be in the middle of a two steps forward-one step back period, and unfortunately, as your analogy so clearly illustrates, this is being driven by policy rather than competion or customer service.

I am sure the brave new post-PSD2 world will be wonderful, but we have to get through a lot of fog first.

Great article - it does look like there is a compelling case for harmonisation between W3C, EMVCo 3DS, and the upcoming Payment authentication processes being defined as part of the Open Banking APIs.

The related article in the telegraph shows more than anything that there is still a widespread misunderstanding of the recent EU driven changes to Interchange and the impact on retailers.

Surcharging as a revenue stream has always been distasteful to the end customer, but the industry has done little to manage impact.

The timing of this announcement is also interesting as it closely follows the announcement from Visa that they will pay retailers to be cash free.

To me this is all good common sense - so I am glad I am not alone in seeing little value in many of the big "Loyalty" schemes. 

Like any love affair, you need to show a your subject a lot of attention, truly care about them, and let actions speak louder than words.

Paul Love