The Luxembourg RegTech specialist Finologee and the Swiss private banking platform and software provider New Access today announced the integration of Finologee’s ‘PSD2 for Banks’ module within New Access’ systems to provide ready-to-use PSD2 compliance.
While New Access is a leading private banking software provider in over 18 countries and supports more than 180 software installations for private banks and wealth management firms, Finologee facilitates European banks to comply with PSD2 and RTS on Strong Customer Authentication (SCA) using a single connection to the bank’s infrastructure.
Through this strategic partnership, New Access which has already integrated Finologee’s ‘PSD2 for Banks’ module into its own platform to serve two of its client banks, will now provide it to its client banks in 18 countries. As a result, Finologee will expand its international presence and availability to many European territories in the upcoming months while ensuring full PSD2 compliance for New Access’ clients.
As a first step, the focus will be on New Access’ Luxembourg, Liechtenstein and UK clients in order to meet the 14th of September 2019 deadline imposed by PSD2.
This collaboration can deliver a giant leap forward toward a more accessible and better-connected EU-wide payment ecosystem.
Jonathan Prince, Finologee’s co-founder and CSO says:
“This partnership is the perfect illustration of the global trend around APIs in the Financial Industry and its advantages for banks to meeting regulatory obligations fast and efficiently. It also shows the roles and the benefits brought by the different stakeholders with New Access integrating seamlessly for its client banks and Finologee providing a proven high quality PSD2 compliant API already used by 32 Financial Institutions in 10 different European countries.”
Vitus Rotzer, New Access’ CEO says:
“Our solution is designed and open to integrate added-value FinTech/RegTech tools within our business processes and workflows. We sincerely believe that the value to customers lies in the most intelligent integration possible of the best offers on the market. This is what Finologee and New Access offer today with facilitating private banks to comply PSD2 in Europe.”