Token, the Level39 member which operates a smart payment network for PSD2 compliance – has announced it is partnering with major European digital challenger bank and API leaders, Fidor Bank.
Token and Fidor Bank signed an MoU which will see Token’s software made available within Fidor OS – the digital banking and open community middleware platform.
Steve Kirsch, founder and CEO of Token says: “Banks will be able to tap into a comprehensive and fully operational API banking infrastructure complete with the transformative attributes offered by programmable money. In the short-term our platform can be used as a springboard to generate revenues from PSD2 and XS2A.”
“In the longer term, it can be applied to enhance the security, speed, cost and efficiency of a massive range of transaction-based banking functions which currently rely on traditional legacy processes, from bill pay, to e-commerce checkouts, international money transfers, B2B payments, intra-bank transfers and more.”