Building an agile, secure and scalable open banking platform with Axway
When the second European Union Payment Services Directive (PSD2) was introduced, the aim was to drive innovation and competition in the European payments market, and to make it easier for banking customers to send and receive money.
Founded in 2018 by four major Luxembourg banks (Spuerkeess, BGL BNP Paribas, Banque Raiffeisen and POST Luxembourg), LUXHUB aims to empower financial services firms across its domestic market and beyond to comply with regulatory requirements such as PSD2 and unlock the commercial opportunities of open banking.
Anne-Sophie Morvan, Chief Commercial Officer at LUXHUB, elaborates: “Meeting the requirements of PSD2 is particularly challenging for small and medium-sized players in the financial services sector, as these organizations typically have lean IT teams with limited development resources at their disposal.” LUXHUB planned to build a brand-new open banking API platform, designed to address PSD2 requirements and prepare traditional financial services firms for the next generation of digital services. Raoul Neu, Head of Platforms & Solutions at LUXHUB, says: “When LUXHUB was founded, the introduction of PSD2 Open Banking requirements was less than a year away. To turn our vision for an open banking platform into reality, we needed to build it rapidly. So, we looked for a proven API solution provider that could help us achieve a very short time to market.”
Securely manage the full API lifecycle and simplify API discovery and use.
