LUXHUB-Preta agreement;
LUXHUB, a European Open Banking API Platform hosted in Luxembourg, has announced a key initiative to broaden its catalogue of services in the context of the new European API Economy.
LUXHUB and PRETA have signed today an agreement allowing LUXHUB to access PRETA’s Open Banking Europe Directory, the Pan European directory providing a single, standardised, trusted, machine readable source for all TPPs and to manage a local copy of PRETA’s directory in Luxembourg to insure a reliable, fast and performant TPP orchestration in the PSD2 context.
The partnership with PRETA strengthens LUXHUBs vision to mutualize operational and technical efforts in the context of PSD2 compliance so banks can focus on the development of their core business and on the relationship with their customers.
All European Banks offering payment accounts has to comply by 14th September 2019 with the specifications defined in the Regulatory Technical Standards (RTS).
Jacques PÜTZ, CEO of LUXHUB commented “We’re developing our range of solutions at high velocity to guarantee full compliance and insure high-level flexibility and unmatched agility for our customers. In the future, successful innovative business will only be possible by cooperating with other institutions, part or not of the financial services sector. LUXHUB sees its mission as helping European financial institutions with these exciting new challenges.”
John Broxis, Managing Director of PRETA stated “We are very pleased to see LUXHUB joining the initiative. There are at least 4,000 banks in Europe that need to comply with PSD2 access to account requirements and not all of them are large enough to provide and connect to necessary infrastructure themselves, so it’s great to see LUXHUB joining as another service provider to provide PSD2 access services.”
LUXHUB is the result of a partnership between four leading Luxembourg banks, determined to leverage the challenges and opportunities of PSD2. It is in this specific context that Banque et Caisse d’Epargne de l’Etat Luxembourg, BGL BNP Paribas, Banque Raiffeisen and Post Luxembourg decided end 2017 to join their forces to create LUXHUB, a PSD2 API connectivity platform. Basically, LUXHUB’s objective is to make interconnection of the entire ecosystem of banks and TPPs as easy as possible.
