Hi James, Inzemamul, I digged a bit more into the XS2A and the OpenBankProject. Just for reference, I only checked their website initially and it seemed to me (especially XS2A) that they are providing some professional services rather than being open-source "vendors".
I found their GitHub repo and what they have is promising: - https://github.com/OpenBankProject - https://github.com/adorsys/xs2a I think the XS2A project could be a great starting point since it has tons of things already in place. Probably building an extra layer (compatible with Fineract) based on it would be valuable. Thanks for the ideas guys. Let me know if anyone else finds something else. Best, Arnold On Fri, Feb 16, 2024 at 1:42 AM James Dailey <jamespdai...@gmail.com> wrote: > Hi Arnold - > > For those not familiar with the European market, a quick explainer about > PSD (Payment System Directive 2 in Europe) below with a link that I found. > [1] > > For Fineract to interact with a Payment instance/switch, requires > something like the PaymentHUB, which is why this was proposed at Mifos and > carried forward as an open source project there. The Mifos PaymentHUB EE > and its derivatives are in use in multiple jurisdictions. It separates the > domains of "Payment Orchestration" (outside of fineract) to "Payment > transaction APIs" (internal to fineract). This was designed to handle the > case of any backend AMS (account management system) being able to connect > with any number of payment switches in the traditional sense. Read more > there --> https://payments.mifos.org or consult the github repos. > > The fineract project has been focused on the account side of things, and > in this vein, I would suggest that certain conversations we are having here > at Apache Fineract(R) about the Spring Authorization Server (i.e. 2FA) as > well as the limited longevity of the Fineract Self-Service APIs should give > you an idea of the current state of the project. As I am sure you can > find, there are tickets on fineract jira for these things. I believe these > are related to your question. > > As for Open Banking, I would also point to an effort that I think could be > very interesting for this community, and I would welcome your thoughts on > it. OpenPayments is a concept that builds on Open Banking protocol efforts > in multiple jurisdictions. Essentially it tries to replace the "many > standards" with just one: > https://openpayments.guide/introduction/overview/ > > Probably you know this, but see also the Berlin Group[2], and the > developments of the XA2A (account to account) concepts. Payments are an > interesting space and evolving rapidly. > > I think Fineract should seek to remain relevant to many and opposed to > none. I am curious what you are finding! > > > Note: > > "PSD2 is a regulatory framework that ensures payments across the EU are > secure, easy and efficient. The changes regulate entities that access or > aggregate account information for electronic payments. This ultimately > drives financial institutions to improve the overall electronic banking > user experience through technological adoption and infrastructure > revitalization. > > The revised regulation introduces the concept of open banking to Europe, > by requiring banks to utilize Application Programming Interfaces (APIs). > The APIs are open to any entity PSD2 recognizes as a Third-Party Provider > (TPP) that follows specific security requirements, such as multi-factor > authentication (MFA)." > > [1] > https://www.sectigo.com/resource-library/the-revised-payment-services-directive-psd2-explained > > > [2] https://www.berlin-group.org/psd2-access-to-bank-accounts > > > > > On Thu, Feb 15, 2024 at 4:20 AM Inzemamul Haq <inzemamha...@gmail.com> > wrote: > >> Hey, >> XS2A is open source so is the OBP. We can work on that. >> As far as I have researched I don't know if there is someone who has >> created such api layer. I guess all are bearing on that. >> Regards >> >> On Thu, 15 Feb, 2024, 2:31 pm Arnold Galovics, <arn...@apache.org> wrote: >> >>> Hi, >>> >>> Sure thing we could build our own PSD2 layer but I was curious if >>> there's something already available (more or less) that could be used. >>> >>> I have just checked the OBP and XS2A solutions and they look promising. >>> Though I was more interested in open-source solutions. >>> >>> Best, >>> Arnold >>> >>> On Wed, Feb 14, 2024 at 4:38 PM Inzemamul Haq <inzemamha...@gmail.com> >>> wrote: >>> >>>> Hello, >>>> Why not to build our own PSD2 api layer also we can use Open Bank >>>> Project (OBP) or XS2A >>>> >>>> >>>> >>>> On Wed, Feb 14, 2024 at 3:23 PM Arnold Galovics <arn...@apache.org> >>>> wrote: >>>> >>>>> Hi guys, >>>>> >>>>> Does anyone know if there's a way to make Fineract PSD2 compatible >>>>> with open-source tooling? >>>>> >>>>> Maybe another component put next to it could provide PSD2 compatible >>>>> APIs or something like that? >>>>> >>>>> Any experience so far with this would be useful. >>>>> >>>>> Thanks. >>>>> Best, >>>>> Arnold >>>>> >>>>> >>>>> >>>> >>>> -- >>>> Regards, >>>> --- >>>> Inzemamul Haq >>>> Typescript | Javascript | Rust Developer >>>> Website: inzi.me >>>> Github: ishqDehlvi <https://github.com/ishqdehlvi> >>>> Phone: +91-9508040387 >>>> >>>>
