Open Banking Europe (OBE) and the European Third-Party Providers Association (ETPPA) have announced a Mutual Cooperation agreement had been signed to foster collaboration, enhance industry understanding and establish a framework for sharing information between the two organisations.
The Mutual Cooperation Agreement formalises and strengthens the interaction and existing relationship between OBE and the ETPPA at a strategic level, focusing on providing guidance and clarification on the operational aspects of PSD2 in Europe.
Both parties will work together on activities relating to TPP services under PSD2 Open Banking. This comprises research, statements, documents and webinars, as well as outreach to other organisations within the Open Banking ecosystem.
John Broxis, Managing Director, Open Banking Europe, said: “This agreement builds on the extraordinary work we have done with the ETPPA in understanding the needs and concerns of TPPs, and bringing these to the attention of regulators and banks so that the successful implementation of Open Banking in Europe can continue.”
The agreement also provides for continued strengthening of future cooperation between OBE and the ETPPA in achieving common goals that will increase stability and help accelerate the Open Finance journey.
Ralf Ohlhausen, Chairman, ETPPA, commented, “Our cooperation with OBE over the past few years has been very fruitful already and we would like to strengthen this further given the many outstanding issues around Open Banking and the need for applying the lessons learned to Open Finance.”