Capitalize on PSD2

Compliance. Revenue. Security. Efficiency.

Token’s open banking platform helps banks quickly and cost effectively meet the PSD2 compliance requirements and generate new revenue.

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What is Token?

The European Parliament’s PSD2 directive requires banks to provide open APIs to payment initiation and access to account data by January 2018. Token has developed an open banking platform with rich functionality (like a computer operating system) that allows banks to quickly and cost effectively comply with the directive before the deadline.

Unlike in-house developed solutions, Token supports the same API across all banks. Even the largest third-party developers can’t support more than one banking API. Banks that use Token will have access to the most third-parties applications. This in turn means greater revenue for those banks.

The Token platform does not disrupt any existing banking infrastructure but layers on top of it.
This means that Token can be up and running at your bank in as little as a few weeks.

Token’s open banking platform also provides your bank with additional modules that turn your bank into a competitive powerhouse enabling your bank to play offense and truly capitalise on PSD2. For example, Token allows banks to set the price for each type of API call, as well as supports special
pricing for large merchants.

Finally, Token uses digital signatures to support a fully open API that can be called by any third party, not just PISPs and AISPs. This results in more traffic and higher margin for the bank.

How it Works

Token is a cloud service. Banks connect their existing infrastructure to the Token service via the Token Bank Service, a lightweight connector that provides the ultimate security and control for the bank while leveraging the benefits of a cloud service such as low cost, fast time to market and rapid innovation of new functionality.

API requests from third party applications are made to the Token network where they are routed to the destination. Such applications include PISPs and AISPs in the world of PSD2.

An infographic that describes how Token works.

Unlike other, insecure solutions that utilize username/password or OAuth2 tokens, all API requests to the Token network are digitally signed using public-key cryptography. This greatly reduces fraud and effectively eliminates mass breaches.

Authorizations to access funds or information in a bank account is restricted through access rules
defined by the account holder. These authorizations are called “smart tokens” and are like smart
contracts, but easier to manage and removes the need for blockchain.

Benefits of Token


Popular use cases

  • C2B/B2B payments with straight-through processing
  • 1-Click e-commerce checkout
  • Payment initiation by third party (PISP)
  • Real-time cash pooling by corporate treasury departments
  • Micropayments (e.g. buy a single news article)
  • Account information retrieval by third party (AISP)
  • Identity verification

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