In November 2015, the European Banking Authority (EBA) issued the revised Payment Services Directive (EU 2015/2366, also known as PSD2). PSD2 mandates banks, upon customer consent, to allow Third Party Providers (TPPs) access to online accessible bank accounts for initiating payments and accessing account information.

PSD2 and EBA RTS require banks to offer at least one interface to TPPs and define requirements in relation to this interface. Banks have the option of allowing TPPs to use the bank’s existing online customer interface (modified to meet the regulatory requirements), or providing a dedicated API interface for TPPs.

During initial period, KentBank will allow the use of modified online customer interface (interfaces used for authentication and communication with the account servicing payment service provider's payment services users) by the payment service providers (TPPs having the valid license issued by competent national authorities).