Omikron’s banking community makes a successful transition to the PSD2 era

The end date for the implementation of PSD2 has now passed. All banks using Omikron’s solutions have experienced a smooth transition to the PSD2-regulated world, as compliance with all requirements was ensured long before the cut-over date of 14th September.

Omikron’s solutions cover an interface for Third-Party Providers and options for Secure Customer Authentication. These innovations are now operational in multiple banks and banking groups across Europe. Omikron would like to thank all banks and members of their project teams for the strong cooperation under time-pressure, which has now resulted in a successful implementation for all parties.

PSD2 is probably the most significant change in the banking sector in the last 10 years. It guarantees a robust level of security for online banking and provides a secure access channel for providers of account-related services.

In addition to fulfilling regulatory requirements, PSD2 also offers banks the opportunity to reposition themselves in the European transaction banking market by offering innovative services. Together with Omikron, banks are currently carrying out projects in order to profitably exploit these new opportunities and strengthen their own market position. Omikron’s strategic vision for this area is outlined in a White Paper, which interested banks can request here.