{"id":49545,"date":"2022-11-22T15:58:56","date_gmt":"2022-11-22T14:58:56","guid":{"rendered":"https:\/\/archief.betaalvereniging.nl\/?p=49545"},"modified":"2023-01-23T17:38:30","modified_gmt":"2023-01-23T16:38:30","slug":"seminar-open-banking","status":"publish","type":"post","link":"https:\/\/archief.betaalvereniging.nl\/en\/actueel\/nieuws\/seminar-open-banking\/","title":{"rendered":"Seminar on future of Open Banking by Dutch Payments Association"},"content":{"rendered":"

On Thursday 17 November, The Dutch Payments Association held its semi-annual General Members’ Assembly (GMA) followed by an informative and interactive seminar on Open Banking led by Gijs Boudewijn.<\/p>\n

During the GMA, Gijs Boudewijn was appointed general director<\/a> of the Payments Association. Some statutory changes were also made, after approval by the members.<\/p>\n

Open Banking<\/h3>\n

Open Banking<\/a> refers to granting access to a payment account to a licensed third party with the explicit consent of the account holder. The Payments Association started the Open Banking working group<\/a> this year. Chairman of the working group is Rob van Bergen (ING) and Niels Pranger (Payments Association) is the secretary. The working group provides members of the Payments Association with a permanent platform for cooperation in the Open Banking ecosystem. \u00a0It keeps track of legislative developments, discusses technical issues and contributes to sector initiatives such as the SEPA Payment Account Access scheme (SPAA) and the Berlin Group. Moreover, the working group discusses which direction the Dutch Open Banking sector should take.<\/p>\n

Maarten Bakker<\/h3>\n

Maarten Bakker – partner at INNOPAY<\/a> – presents INNOPAY’s Open Banking Monitor. The monitor assesses the gateways that banks provide for Open Banking, better known as APIs (Application Programming Interfaces). The breadth of an API on offer and the experiences of third party developers using the API, determine the score of the bank that provides the API. Dutch banks score well on the monitor. Maarten Bakker sees a shift from Open Banking to Open Finance in recent years. Besides access to payment accounts, financial institutions (including banks) offer a wider range of services and products. Mortgages, insurance and investments are good examples. INNOPAY predicts that embedded lending could grow into a billion-dollar industry in the coming years.<\/p>\n

Jan van Vonno<\/h3>\n

Jan van Vonno – head of industry strategy at Tink<\/a> – gives his views on the future of payments. Licensed as a payment initiation service provider, Tink is trying to innovate the payments market. With its licence, Tink can initiate transfers between payment accounts. Variable (dynamic) recurring payments are a new payment method that could change the payments industry. It allows a seller to periodically collect a variable amount within conditions set by the buyer. This is a suitable solution when the final amount is unknown, e.g. for subscriptions. In addition, it allows for a payment method at points of sale that can compete with payment cards. Jan van Vonno emphasises the importance of the SPAA scheme for these innovations.<\/p>\n

Christian Sch\u00e4fer<\/h3>\n

Christian Sch\u00e4fer – co-chair SPAA multi-stakeholder group<\/a> – introduces the SEPA Payment Account Access (SPAA) scheme. The revised Payment Services Directive (PSD2) unleashed Open Banking but lacks important pieces of the puzzle, such as a fee for API providers. Moreover, the scope of PSD2 is limited to payment accounts. The SPAA scheme tries to solve this and looks beyond PSD2; the scheme should take Open Banking in Europe to the next level. Christian Sch\u00e4fer argues that the SPAA development process was very complex and sometimes painful, but is now well advanced. For instance, banks and third parties agreed that there should be a fair distribution of value and risk and more focus on consumers. Together, they have developed new use cases, such as variable recurring payments. The default fee and minimum viable product (MVP) for this new payment method will be announced in the first quarter of 2023.<\/p>\n

Gijs Boudewijn closed the event with an interactive panel discussion on Open Banking between Rob van Bergen and the three speakers mentioned above, with questions and comments from the audience in the room.<\/p>\n

Photo collage<\/h3>\n