Turkish Bank UK has partnered with Token to provide third parties regulated, PSD2 compliant access to its UK retail and business customer accounts.
By using Token’s API platform, Turkish Bank UK can now be accessed by any regulated Third Party Provider (TPP) in Europe, and can launch multi-banking services such as those that bring together accounts from multiple institutions into a single customer view. It also delivers crypto-based security and programmable money technology, guaranteeing full compliance with the Regulatory Technical Standards (RTS) for Strong Customer Authentication (SCA) and common and secure open standards of communication
Token’s Open Banking platform helps banks achieve PSD2 compliance and generate new revenue streams. It also allows banks and other players in the payments ecosystem, such as merchants and payment processors, to build bank direct payment methods and data aggregation solutions for their customers. Token supports the same API across all banks.
Token is authorised as an AISP and as a PISP by the FCA in the UK and has passporting rights in an additional 20 countries.