Digital banking and financing software specialists Sopra Banking Software, has secured a deal with Rabobank International Direct Bank (Rabobank IDB) enabling its “Digital Experience Platform” (DxP) to be used in order to comply with PSD2 regulations.
Part of Dutch group Rabobank, Rabobank IDB is a savings bank with payment capabilities operating in Belgium and Germany.
Hendrik Hofkens, delivery manager of Rabobank IDB, said: “Sopra Banking Software’s Digital Experience Platform greatly helped us deliver our compliancy requirements to the market.
“The solution and the company’s involvement throughout the whole process ensured an easy and smooth launch of our PSD2 compliant solution.”
With PSD2 set to become effective in September 2019, Rabobank IDB said it chose the DxP software because a standard version was “readily available with preconfigured digital services.”
Rabobank IDB launched its sandbox in Belgium in February and the DxP solution offers flexibility in order to accommodate open banking in the future.
Duco de Lange, managing director of Sopra Banking Software, Netherlands, commented: “We, at Sopra Banking Software, have been working with Rabobank IDB for more than 15 years so we are very familiar with the firm’s needs and approach.
“For PSD2 compliance, the goal was to meet a tight regulatory deadline with a robust and flexible solution, and the scale to remain compliant with multiple players.”
The platform provides test sandboxes that provide fintechs the opportunity to experiment on access point APIs and test data implemented by banks.
DxP also includes tools to manage third-party providers and payment service users and integrated analytics to leverage the new data flows as the PSD2 ecosystem develops.
“We are proud of the continued confidence Rabobank IDB has in our company and our solutions, and to have participated in one of the first project of PSD2 compliance in Europe with them,” de Lange concluded.
