What is Berlin Group ?

The Berlin Group, which currently has participation of 26 major players in the payments industry from 10 different euro-zone countries, representing more than 25 billion card-originated transactions annually within the Single Euro Payments Area (SEPA). The Berlin group was formed to fill in some of the gaps left in PSD2 concerning cross-bank or European-wide API standards. Such standards, which ensure uniformity across basic open banking interfaces and processes, are important to achieve a unified open banking ecosystem for financial products.

To this end, the Berlin Group defined a standard API protocol known as NextGenPSD2 for open banking. While other standardisation initiatives have been launched, the Berlin Group, along with Open Banking, are the most advanced.

Was this article helpful?

Friendly Score UK Ltd.

52 Brook Street 1st Floor, Mayfair

London W1K 5DS

Call us on +44 20 3709 6726

Company registered in England

Company number 09168668, ICO ZA111687

VAT registration number 206 9758 80

Authorised and Regulated by the Financial Conduct Authority. (FRN: 781963)