The Berlin Group consist of almost forty banks, associations and PSPs from across the EU. The objective is to define open and common scheme- and processor-independent standards in the inter-banking domain between

creditor A creditor or lender is a party (e.g., person, organization, company, or government) that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property ...

banks (acquirers) and

debtor A debtor or debitor is a legal entity (legal person) that owes a debt to another entity. The entity may be an individual, a firm, a government, a company or other legal person. The counterparty is called a creditor. When the counterpart of this ...

banks (issuer) and to complement the work carried out by organisations like the

European Payments Council The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. , there were 36 members in SEPA, consisting of the 27 member states of the European Union ...

. To achieve this objective, the Berlin Group has established a pure technical standardisation body, focusing on detailed technical and organisational requirements. This common API standard is called "NextGenPSD2" and was developed to create uniform and interoperable communications between banks and TPPs.

References

{{Reflist Application programming interfaces Banking in the European Union

See also

References