FIME Releases API Testing Tool for Open Banking

FIME, a provider of Host Card Emulation (HCE) and cloud-based payments consultancy and testing services, has announced a new testing tool for open banking APIs. The company’s new solution, which has been named TrustAPI, allows partners to test APIs based on their specific needs.

ProgrammableWeb has previously noted the impact that PSD2 has had on open banking and how developers have had to adjust their strategies in light of these changes. This new tool from FIME could help developers validate the PSD2 compliance of APIs, before relying on them in applications. TrustAPI testing is validated based on STET standards, one of many initiatives that have arisen in the wake of PSD2 that aims to establish a common API standard for compliance. In the future, the company plans to support other standards including the Berlin Group’s NextGenPSD and the Open Banking UK (OBUK) API standard. Reza Rahmani Fard, Head of Payments Marketing at FIME, had this to say about the importance of including these standards:

“Open banking API standards are proving increasingly popular to efficiently achieve regulatory compliance, interoperability and safe data transfer...”

This tool is a part of FIME’s recently released FIME Test Factory 4.0, which provides partners with automation, digitalization and customization of the open API testing process. 

Be sure to read the next Open Banking article: SWIFT Adds Open Banking API Standard for Pre-Authorization of Funds