Bafin brings parties to a table in the PSD2 dispute


Frankfurt New data interfaces for access to the bank account cause quarrels between banks and third-party providers. They are part of the EU PSD PSD2, which started in September. According to the bank, banks must provide access to account information to other companies registered with the Financial Regulator (Bafin) if the account holder agrees.

The Executive Director for Banking Supervision, Raimund Röseler, is calling for better cooperation from market participants. Both sides of the market should develop constructive solutions that go beyond the "PSD2 compulsory program". "Here Germany can play the pioneering role in Europe," he told the Handelsblatt.

On Friday, Bafin invited representatives of the German banking industry and managers of large payment and account information services to the "top meeting". The sometimes conflict-laden discussion should be steered into more constructive channels, said a Bafin spokeswoman. For example, banks and third-party providers had argued about the question of what data banks need to provide via the new interfaces (API).

While the banks opted for a minimal solution, third-party vendors saw their business models at risk as there was not enough data available. You use account access for multibanking apps, for example. This allows customers to manage multiple bank accounts at a glance. Also, a credit check before a loan or an analysis of contracts is possible on customer request.

On Friday, there was a "practical discussion" on "how to make the fastest possible transition to powerful PSD2 interfaces," said the financial regulator. Fundamental news was not discussed, according to statements of participants, but it should soon give a joint statement.

The supervisors emphasized that the PSD2 offers a great opportunity to realize innovative financial services in Germany. In addition, there is a common interest in premium services. Banks could provide additional data to third party services. This can be paid if necessary.

Delayed start date

The launch of the new API was actually scheduled for September 14, but they are still barely operational. As early as mid-August, Bafin had also criticized various, missing functions and therefore allowed a transitional arrangement: Third-party providers can continue to access the accounts via existing data interfaces – HBCI / FinTS and Webscraping. A deadline for the conversion does not exist so far.

The overseers, however, expect that "by the end of the year, significant outward visible results will be achieved" and reserve the right to set an end date for the changeover. "We will continue to closely monitor the implementation process and not leave the market alone," said Röseler.

A simple next-so was not possible with the old interfaces. For four weeks, many banks have demanded a "second factor" from their customers for each account log-in in addition to the password. Customers receive this partly via SMS, via so-called photo and push-Tan apps or via Tan generators. Third parties had to adapt their access to the new security procedures of the banks. This has tied up much of their capacity, several suppliers reported the Handelsblatt.

1049 customer complaints

Even with bank customers, the change caused trouble. Bafin has received 1,049 customer complaints on banks since 14 September, two and a half times more than in an average month last year. The consumer centers have also received more inquiries. In the harmless cases, customers complained only about the new, complicated processes for banking via the Internet or smartphone app.

But many did not even reach their accounts and then met with an overloaded customer service. "It is still unclear whether there are transition periods or lasting problems," says Frank Christian Pauli, financial expert of the Consumer Federation Federal Association. "Some technical changes did not seem to have consequences for consumers," he says.

In addition to the different Tan methods, the different rhythms of the queries cause confusion among the customers. At the savings banks and the comdirect the input is only necessary every 90 days. The German bank she is currently asking for each log-in, but from October 23, customers should decide for themselves whether they would rather identify with Tan only every 90 days.

at Commerzbank, DKB and Consorsbank on the other hand, you are stuck with the tan input every time you access it. For Commerzbank customers using the SMS-Tan process, every tan costs twelve cents. So far, the warning from the Verbraucherzentrale NRW has changed nothing.

Access to multi-banking apps from vendors such as Outbank and Numbrs has also become more difficult and sometimes disturbed due to frequent tan queries and new security procedures. Suppliers complained about a "discrimination" of their apps. If the appeal of the Bafin effect shows, these problems should be eliminated soon.

More: With the recent software update has Apple enabled the NFC interface of its devices for ID functions. This can be useful for consumers.

PSD2 (t) Payment Services Directive (t) Bafin (t) Banks (t) Account Data (t) Commerzbank (t) Banking Supervision (t) Payment Transactions (t) Electronic Payments (t) Consumer and Consumer Protection (t) BaFin (t ) BNP (t) Outbank (t) DKB (t) Deutsche Bank (t) Apple (t) Comdirect (t) Association of Consumer Advocates (t) Raimund Röseler (t) Fintech (t) Banks & Credit Institutions (t) Electronic banking


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