Helping banks and app developers to onboard effectively.

About STET

STET provides payment processing services across the SEPA and domestic instruments including direct debits, credit transfers, card and ATM transactions and more.

The challenge

As a truly unique project, a number of challenges needed to be overcome:

• Understanding and developing a solution that accommodates all new technologies, players and regulatory requirements.

• Fime needed to combine and apply existing knowledge to define how best to test against the new specification’s requirements.

• With a 2019 deadline, the pressure was on for Fime to work quickly, efficiently and effectively with a number of stakeholders.

Our mission to offer a standard open banking API and test platform was  exciting but daunting, and Fime’s support has been central to making it happen.

Customer requirements

As part of PSD2, the European Banking Authority’s (EBA) Regulatory Technical Standards (RTS) requires banks offer a testing platform to financial application developers by March 2019. 

STET decided to develop a standardized open-access API and companion testing platform to enable banks and fintechs to meet regulatory and legal requirements, ensure smooth integration between apps and bank infrastructure and expedite time to market for new services.

Fime’s solution

Utilizing its expertise in the payments ecosystem, and over twenty years’ experience in financial services, Fime provided consultancy to help STET map the project requirements and highlight complexities and challenges. It provided a thorough end-to-end review of STET’s specification and offered recommendations for development of the testing platform. 

Fime developed the test scripts in line with the specifications and compiled the application test plan. Working in collaboration with the sandbox supplier, these test scripts were then crafted into a software package and provided to participating banks and app developers.

The specifications and test platform have already been adopted by a number of banks in France and Fime continues to support the implementation of the open banking APIs.

Working with Fime

Throughout the project, Fime:

• Provided invaluable industry insight to support API test tool providers in designing best-in-class testing services to achieve PSD2 compliance.

• Utilized its experience in testing and working in cloud-based environments to deliver a comprehensive, quality test plan.

• Worked flexibly in collaboration with any sandbox provider.

• Delivered the solution within a tight timeframe, ensuring a speedy time to  market at a competitive cost.