STET Releases Version 1.4 Of It’s PSD2 API Definition

We noticed that STET released version 1.4 of its PSD2 API, for the French banking community. The banking consortium created an API definition to support the new Payment Services Directive (PSD2), looking to provide a secure and easy-to-use set of services to be implemented by the following European banking industry actors:

AISP – Account Information Service Providers
PIISP – Payment Issuer Instrument Service Providers
PISP – Payment Initiation Service Providers

The PSD2 compliant API provides authentication, authorization, proof management and fraud detection oriented features, building the API with the latest technology standards using REST, OAuth2, JSON and HTTP-signature, relying on ISO20022 elements for structuring the data to be exchanged between TPPs and ASPSPs.

The STETS version 1.4 release is intended to evolve the APIs support in the following areas:

Regulatory – Comply with the opinion that was published by the European Banking Authority
Change Requests – Take into account most of the Change Requests that have been addressed to STET after releasing of version 1.3
Common Patterns – Implement the common work achieved by the CNPS Working Group co-chaired by “Banque de France” and “Direction Générale du Trésor” with French actors (Banks, TPPs, Commerce representatives, GDPR expert.)

STET provides an OpenAPI 2.0, and 3.0 editions of their API, for the community to use–you can also access a change log for the project. Providing a pretty valuable blueprint for the rest of the banking API community to take advantage of when it comes to jump starting and standardizing how APIs are delivered by banks in Europe.

We are keeping an eye on what STET is doing, and will be using their API definition work in our API life cycle workshop. Providing a series of workshops that banks can implement within their enterprise groups, helping them understand how to deliver APIs consistently and reliably across the enterprise, as well as with partners and the public. If you’d like to learn more about our banking API life cycle workshops, feel free to reach out and we’ll see what we can do to bring one to your organization.

AI in Finance White paper - PSD2 API

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