Dmitrii Barbasura

Chief Operating Officer at Fintech Galaxy

Message Posts: 11 Comments: 2

Career History Dmitrii has 15 years of work experience in the fintech industry, specializing in payments, e-commerce, credit cards processing, API development, and data aggregation. He has extensive knowledge and understanding of cross border data processing, GDPR, PIPEDA, and expertise in Open Banking and PSD2.

Blogs

Online Banking

Jordan’s Regulation of Open Finance Services: Trailblazing the innovative path

17 Jan 2023

At the end of November, The Central Bank of Jordan (CBJ) issued instructions governing Open Finance services by all banks operating in the Kingdom, as well as online payment and money transfer companies subject to the bank's supervision and control, marking the new era of enhanced, seamless, and enjoyable financial experiences. The last couple of ...

Online Banking

Open Banking challenges in MENA region: Measuring success.

14 Sep 2022

Open Banking is steadily penetrating most of the world’s regions and MENA is no exception. With the majority of the region’s population being young and demonstrating one of the highest rates of smartphone usage globally, saying that this region is more than ready to fully welcome Open Banking sounds like an understatement. The last couple of year...

Banking Regulations

Why open banking APIs are so different

28 Apr 2021

Open banking comes with a lot of expectations and promises, such as democratisation of Access to Account (X2A), increased competition between banks and fintechs, and provision of better control to end-customers over their financial data and payments. To facilitate the adoption of open banking, several API standards incentives were created includin...

Open Banking

6 key pillars that make open banking actually work

25 Feb 2021

This is the second article from the series about the value of open banking and the rules it comes with. In the first article we have discussed the value of open banking and the benefits it brings to each market player. Today, we are going to discuss criteria that have to be respected to create perfect conditions for open banking to function in har...

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Dmitrii is Commenting on

The promise and possibilities of Open Banking

Great article and totally agree with you, especially regarding the need for entities that would bridge the gap created by the lack of a single established API standard and implementation differences. We've been walking this road for many years now and know how different APIs actually are. Being a pioneer in Open Banking and building such a platform since 2013, we bring interoperability not just on the pan-European level, but on a global one - equipped with AML transaction monitoring & sanctions checks mechanism, etc. We often hear even from big companies how they initially try making the connections themselves and then just end up looking for an Open Banking provider, due to all the reasons mentioned in your article.

03 Mar 2021 Reply Read article

TPP identification challenge for ASPSP under PSD2

Brendan, thank you for your comments. I agree that verification of TPP’s eIDAS PSD2 certificate is a regulatory requirement each ASPSP must comply with, and such verification should be sufficient for the purposes of TPP identification under PSD2 and related RTS. EBA’s responses to issues VIII to XIII raised by participants of the EBA Working Group on APIs under PSD2 only reinforces this position: “ASPSPs are not legally required to rely on any other means for the purpose of identification of TPPs.” Thus, can you please provide reference to the specific provisions in PSD2 or RTS that would require the ASPSP to namely check the EBA Register and/or National Registers? Moreover, considering that both EBA and NCAs do not guaranty accuracy of the information presented in their registers and disclaim liability for any errors or omissions therein, it is not clear how such additional checks would help an ASPSP to comply with its other regulatory duties of care.

24 Jun 2019 Reply Read article