PSD2 Open Banking

There is a lot happening in PSD2, also known as Open Banking

This topic could go in a few different directions and be implemented in various ways:

  • are there specific ways this could be used now, for example, to download a statement to assist in account reconciliation?

  • at a higher level, does this change the accounting workflow, especially for smaller businesses? Traditional workflows involve receiving a bill, authorising it, writing the cheque and then reconciling it. For some accounts, the business owner may take a bank statement from Open Banking as the input to their accounting software, instead of using it for reconciliation in the last step, they use it as the first step and as it came directly from the bank, it doesn’t need to be reconciled in the same way.

Is anybody already aware of libraries and tools for this?

I’m not very sure of understanding you but…

Do you know Trtyon already has some modules to manage statement workflows?

I hope it helps.

I just scanned the article and it seems to be like SEPA? Also check

To me PSD2 is about to unify the payment and exporting of transactions. The banks also have to make an API available so third party can access your bank account.

I’m a Tryton user myself and what I do is:

  • login into my bank account with my webbrowser
  • download a file with transactions
  • import the file into Tryton with account_import_statement
  • check the statements, make small adjustments
  • reconcile

PSD2 order to make banking info available to 3rd party via an api, but doesn’t tell witch protocol to use (just suggest to use iso2022 messages).

There are a few companies who provide software for the banks and these companies may be involved in implementation, especially for smaller banks who don’t develop everything in-house.

Some companies are working on creating APIs that allow developers to access accounts from several banks: