Fiserv has expanded its agreement with The Co-operative Bank to support its integration of services under the European Union’s Second Payment Services Directive (PSD2).

The bank will implement FinKit for Open Banking from Fiserv to enable continuous innovation, customer engagement and easier access to services.

The cloud-based delivery model of FinKit will facilitate the many aspects of compliance, from secure customer authentication to management of trusted third parties (TPPs). It includes access to pre-built Application Programming Interfaces (APIs) and gives ongoing compliance through API version control and publishing.

Darrell Evans, products and marketing director at Co-operative Bank, said: “The technology and innovation of Fiserv and their expertise in best practices from across the globe enables us to move forward with our plans and maximise the opportunities open banking presents for our customers.”

Lee Cameron, managing director for EMEA at Fiserv, added: “The bank has taken a leading-edge approach with their decision to utilize FinKit for Open Banking and its managed service model, this is well aligned to the bank’s strategy of leveraging open banking to provide more value to customers.”

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