The update has been provided - as with all previous library updates - to existing and new customers alike. The new content includes a control set of 154 control statements and a corresponding assessment set. We also added some new control statements specific to payment services to the library to appropriately cover this regulation.
Head start for FinTechs applying for a PSD2 license
For FinTechs looking to apply for a PSD2 license, this new content - along with Alyne’s previous capabilities provides a huge head start. Things like a Business Continuity Management Framework, Integrated Risk Management and Cyber Security Management processes come out of the box with Alyne - and need to be demonstrated to the regulator with your application. You can also quickly leverage the assessment template to run a fast gap analysis during the preparation phase. Setting up these processes in Alyne also provide FinTechs with a sustainable platform to demonstrate mature capabilities towards the banks whose data they plan to access.
Scalable Assessments for Banks
Under PSD2 banks will potentially face a large number of applicants looking to access their data via API’s and are required to ensure these organisations have the appropriate technical and organisational measures and structures in place to safely process the bank’s information. Having a scalable assessment process deployed paired with automated interpretation and risk analytics to support the evaluation process are key to not create excessive cost in complying with PSD2. Alyne’s assessment methodology and pre-defined PSD2 assessment template can have your PSD2 assessment process up and running in minutes.
Contact our sales team at email@example.com to learn how Alyne can help your PSD2 initiative or learn about how you can experience Alyne’s capabilities in a Proof of Concept.