Why is the payer (PSU) journey different in Europe?

In the UK the Open Banking Implementation Entity (OBIE) has been created by the CMA to respond to the PSD2 requirement of creating bank APIs. The OBIE has set the standards that enabled financial institutions to adopt a unified approach when delivering Open Banking.

In Europe, the approach has been more fragmented not only depending on each country but also on the banks. As a result, in some cases, in Europe, online banking is less user-friendly and payments can require extra steps.

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