SBS has rolled out an updated version of its SBP Open Banking Platform, designed to assist banks in offering cutting-edge digital payments and Embedded Finance services across Europe.

This SaaS platform enables financial institutions to expedite their digital transformation while maintaining adherence to the ever-changing global and local regulations. Leveraging PSD2 technology, SBP Open Banking now supports FDX and PSD3 PSR1 (Berlin Group v2), with plans for future compatibility with frameworks such as FIDA and the Digital Euro. Additionally, the platform incorporates advanced digital payments solutions like Wero.

SBS’s New Features

The updated solution facilitates banks’ integration with Wero, a key feature of the EPI digital wallet. Acting as an intermediary between the EPI central services and a bank’s core systems, it ensures full compliance with the EPI roadmap across regions like Belgium, France, the Netherlands, and Germany.

While custom integrations with EPI might initially appear simple, challenges arise due to ongoing regulatory requirements and changes. SBS addresses these issues by providing banks with the flexibility to launch Wero as a standalone service or incorporate it into existing digital experiences.

Another significant advancement is the provision of advanced credit insights powered by Algoan, which supports scenarios such as leasing and buy now pay later (BNPL) solutions. This upgrade also encompasses enhanced regulatory coverage with support for interoperability standards like FDX (US), PSD3 PSR1 according to current drafts, and Berlin Group v2, while ensuring readiness for the future framework FIDA.

By positioning itself as an orchestration layer for modern payments and Open Banking, SBS offers Wero, state-of-the-art credit services, and global standards on a unified platform. This allows institutions to achieve faster time-to-market, simplified compliance, and the ability to introduce new payment solutions without added complexity.

Early adopters in Europe and North America have leveraged SBP Open Banking to streamline their operations and Wero payment strategies. The solution also integrates Axway’s Amplify iPaaS for robust data management and seamless user experiences.