Open Banking Europe and the European Third Party Providers Association announced today that they had signed a Mutual Cooperation Agreement to promote collaboration, improve industry understanding, and create a mechanism for exchanging knowledge.
The Mutual Cooperation Agreement, which focuses on providing feedback and clarity on the operational aspects of PSD2 in Europe, formalizes and enhances the engagement and established relationship between OBE and the ETPPA at a strategic level.
Both parties will collaborate on TPP-related activities as part of PSD2 Open Banking. This includes analysis, speeches, papers, and webinars, as well as outreach to other Open Banking ecosystem organizations.
“This agreement builds on the extraordinary work we have done with the ETPPA in recognizing the needs and concerns of TPPs and bringing them to the attention of regulators and banks so that the effective introduction of Open Banking in Europe can continue,” said John Broxis, Managing Director, Open Banking Europe.
Ralf Ohlhausen, Chairman, ETPPA, commented, “Our cooperation with OBE over the past few years has been very fruitful already and we would like to strengthen this further given the many outstanding issues around Open Banking and the need for applying the lessons learned to Open Finance”.
The agreement also calls for the OBE and the ETPPA to work together in the future to achieve mutual objectives that will improve stability and speed up the Open Finance transition.