Fime partners with Bridge to boost open banking API compliance

By Megha Bhattacharya

Fime today announced a partnership with Bridge, powered by European open banking solutions provider Bankin’ in a bid to speed up the functional and security testing of their APIs to achieve exemption from the fallback mechanism under the PSD2 regulation. The collaborative API Testing platform allows Fime to test whether banks’ API open banking are in line with the European regulations.

“APIs need to be thoroughly tested before they can be exempted (article 33.6 b of the RTS – Regulatory Technical Standards related to the implementation of the PSD2). There was no solution on the market today to answer some needs which was slowing the adoption of open banking and causing frustration amongst some stakeholders,” said Alexis Roque, Head of Operations at Bridge powered by Bankin’.

According to Fime, the automated testing platform allows banks to validate compliance with the Regulatory Technical Standards, The Berlin Group standards and the STET standards. It is available for AIS1, PIS and CBPII APIs.

“Regulatory pressures are mounting for banks. This platform empowers banks to ensure the performance and security of their APIs, as well as alignment with some of the largest open-access API standards in Europe. This is a significant step towards greater stability and compliance in the open banking ecosystem,” said Raphaël Guilley, Vice President of Testing Solutions at Fime.