HSBC Launches APIs, Developer Portal For PSD2

HSBC has unveiled its application program interfaces (APIs) and developer portal to comply with the EU’s Second Payment Services Directive (PSD2).

Reports in the Global Banking & Finance Review said this week that HSBC launched the APIs and developer portal to enable third-party payment companies to deploy their own solutions for business and consumer customers. The solutions can integrate with data held by HSBC, with account information, payment initiation and funds confirmation the focus of the APIs.

The developer sandbox also enables developers to access mock data from HSBC retail and corporate payment accounts in compliance with PSD2, the company noted.

“We are keen to work with multiple parties to develop and test their applications and customer propositions, through easy and secure access to the wide range of simulated products and services on our PSD2 Developer Portal,” said HSBC Global Head of Digital, Global Liquidity, Cash Management and Business Banking Nadya Hijazi in a statement. “We look forward to working with third-party payment providers across Europe to use HSBC’s services and bring new innovation to the market through an intuitive developer ecosystem.”

The developer portal supports Open Banking Implementation Entity (OBIE) and STET standards for Europe, while HSBC is in the process of adding Berlin Group standards.

Last year, HSBC introduced a suite of APIs in the U.S. under its Commercial Banking unit. The initiative included the launch of HSBC’s Digital Partner Platform, which enables third-party FinTech firms to collaborate with HSBC, as well as use the APIs and data held by HSBC to create its own solutions.

“Our corporate clients expect value-added digital connections from their banking partner,” said HSBC Commercial Banking U.S. Head of Digital Banking EJ Achtner in a statement last October. “As we expand this platform, our intention is to create a digital ecosystem that gives clients access to the tools they need to grow and succeed.”