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The standards body confirmed the pilot in June 2023, after contacting industry partners to test the benefits of the service with a group of participating banks and payment service providers. This pilot will run with involvement from the likes of BNY Mellon , Deutsche Bank , DNB , HSBC , Intesa Sanpaolo and Standard Bank.
APIs are changing how banks serve their corporate customers, helping them become more competitive. Europe’s open banking regulations have forced financial institutions (FIs) to use APIs to open their data to FinTechs, which has resulted in many new services for businesses. Opening up to Faster Transactions.
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