Duco de Lange, MD of Sopra Banking Software, Netherlands

Rabobank International Direct Bank (IDB) has selected Sopra Banking Software’s Digital Experience Platform in a bid to comply with the PSD2 regulations.

Duco de Lange, Managing Director of Sopra Banking Software in the Netherlands, commented: “We, at Sopra Banking Software, have been working with Rabobank IDB for more than 15 years so we are very familiar with the firm’s needs and approach. For PSD2 compliance, the goal was to meet a tight regulatory deadline with a robust and flexible solution, and the scale to remain compliant with multiple players. We are proud of the continued confidence Rabobank IDB has in our company and our solutions, and to have participated in one of the first projects of PSD2 compliance in Europe with them.”

According to the supplier, Sopra’s platform aims to assist financial entities and banks in their PSD2 compliance journey. The DxP platform provides ‘sandboxes’ or test environments, allowing fintechs to experiment on access point APIs and test data implemented by banks. The platform, in addition, will provide integrated analytics and monitoring to utilize new data flows generated by the PSD2 ecosystem. The platform aims to provide Rabobank IDB with the flexibility to accommodate Open Banking into its system with optimal costs.

Hendrik Hofkens, Delivery manager of Rabobank IDB, says: “Sopra Banking Software’s Digital Experience Platform (DxP) greatly helped us deliver our compliancy requirements to the market. The solution and the company’s involvement throughout the whole process ensured an easy and smooth launch of our PSD2 compliant solution.”

Rabobank is a full-range financial services provider, comprising of independent local Rabobanks plus Rabobank Nederland, their umbrella organisation, and a number of specialist subsidiaries. Rabobank IDB, part of the Dutch group Rabobank, is a savings bank with payment capabilities operating in Belgium and Germany.

Recently, Sopra Steria announced that they would be carrying out transformation and implement Sopra Banking Platform for seven Sparda banks in Germany.

by Megha Bhattacharya
Market Analyst at IBS Intelligence