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Temenos collaborates with open banking platform on PSD 2 solution for banks

Swiss banking software firm Temenos AG said it is collaborating with Luxhub, a European open banking API platform hosted in Luxembourg, on a solution that will help lenders meet standards set by the second European payment services directive, or PSD 2.

The collaboration also aims to help banks obtain a fast time-to-market process, in addition to maximizing additional opportunities available via APIs.

Luxhub is a joint initiative of Banque et Caisse d'Epargne de l'Etat, BNP Paribas SA unit BGL BNP Paribas SA, Banque Raiffeisen Société Coopérative and Post Luxembourg.