PSD2 & Open Banking Technical Guide

How the Ping Identity Platform Enables ASPSPs to Comply with Open Banking

As financial organizations open their APIs to third-party providers in order to comply with PSD2 and Open Banking, a key question often arises: How do we best deploy and configure a solution that will enable us to obtain a fully conformant Open Banking solution?

For many, the answer lies in the Ping Identity Platform. Ping’s intelligent identity solutions effectively address PSD2 challenges through four primary capabilities:

• Single sign-on (SSO)

• Multi-factor authentication (MFA)

• Access security

• Directory

This guide details how Ping’s software solutions help account servicing payment service providers (ASPSPs) comply with the UK Open Banking Specification. Although the configurations herein are specific to Open Banking, the Ping Identity reference architecture is well suited to address the broader PSD2 landscape, regardless of the specific standard adopted.