A noticeable message from the media: the uNLock consortium is developing an inoovative application to share the outcome of a corona test or vaccination. Participants: TNO, Delf University of Technology, Leiden Univesity and Rabobank, among others. Isn’t the bank an odd one out in this message? “On the contrary, ” replies Nico Strauss, Tribe Lead B2B Services at Rabobank. “This partnership is a logical result of our open banking strategy”.
No sidelines, but leading the way
Open banking is the collective term for the transition from a closed to an open financial system. So called APIs (application programming interfaces) play an important role in this transition. These digital gateways allow external programs to access the data and services of financial parties. Open banking is a European ambition, established in the PSD2 legislation. Nico Strauss: “Europe wants more transparency, competition and innovation in financial services, as this offers consumers more options. Many banks remain on the side-lines within this process, and some of the fintechs only look for solutions in the traditional payment systems. At Rabobank we see PSD2 as an opportunity and we take the lead in this transition. We work closely with partners such as European tech company Signicat – after all, we don’t and can’t do everything ourselves”.