FIME has rolled out a new testing solution, which will enable banks and third-party providers (TPPs) to verify APIs against PSD2 standards.

Dubbed TrustAPI, the new solution will enable users to test APIs according to specific business needs.

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Moreover, users will also be able to validate against various API standards and PSD2’s third party access to account (XS2A) norms, FIME noted.

At present, the new tool enables testing as per the STET standard.

Plans are on to gradually include other standards such as the Berlin Group’s NextGenPSD2 as well as the Open Banking UK (OBUK) API standards.

The ultimate goal is to accelerate the launch of open banking services.

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The test suites are powered by FIME Test Factory 4.0, which was launched last month.

FIME Test Factory 4.0 supports automation, digitalisation and customisation of the testing process.

Commenting on the new proposition, FIME head of payments marketing Reza Rahmani Fard said: “Open banking API standards are proving increasingly popular to efficiently achieve regulatory compliance, interoperability and safe data transfer.

“This industry-first test platform is smoothing the path to open banking. Harnessing the power of these standardisation efforts, we’re enabling stakeholders to deliver new open-access services quickly and cost-effectively – without compromising on quality.”