Malta-based Izola Bank has selected Fiorano Software to deliver PSD2 compliance and Open Banking capabilities.

Under the agreement, the software company will deliver its Fiorano PSD2 Accelerator to the bank.

The Fiorano PSD2 Accelerator is a single, pre-integrated technology stack. It is capable of delivering ASPSP interfaces.

The platform, according to the technology vendor, will also address technical considerations for access to account, strong customer authentication, common and secure channels of communication, TPP Identity and regulatory checking.

The platform clubs various components needed by lenders into a single technology stack.

It also eliminates multiple products, installations and integration points, the company claims.

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By GlobalData

Fiorano added that its platform will significantly cut down implementation time, cost and uncertainty risks associated with PSD2 at Izola bank.

Izola Bank head of ICT Gordon Briffa said: “We evaluated a considerable number of vendors to partner for the PSD2 solution deployment and managed to find only one that was extremely knowledgeable and offered a hands-on approach. That was Fiorano with PSD2 Accelerator.

“They are assisting us in every step of the way with the local regulators and their assistance in understanding the regulation is essential in driving the project successfully.”