The first European ‘Access to the Account day’ (XS2A-day) will be organized by Innopay in Brussels. XS2A is a relatively new initiative by regulators that aims to open up bank accounts of buyers to a larger variety of service providers to buyers and sellers. The objective is to allow innovative players access to the bank domain (via APIs) in order to offer bank account based payment initiation and information services, thereby creating more competition between providers, innovation for end users (buyers and sellers) and a larger market for digital services. The rules surrounding XS2A are expected to become part of the PSD update, of which the draft is to be expected in the coming months. First security considerations (for consultation) have already been put forward by ECB in a recent document .

The objective of this first XS2A-day is to advance the debate by creating a common understanding of the topic and a clear definition of the solution space, paving the path for outstanding services for buyers and sellers. We believe the European payments industry has an excellent opportunity to reshape this domain for the good of all stakeholders, including banks, payment service providers, merchants, consumers, vendors, industry associations, central bankers and regulators... if executed well.

Last months we were approached by many stakeholders regarding XS2A and it turned out that almost everyone seems to have similar questions and concerns:

1. What could be the functional scope of XS2A?
2. What could be the value proposition to service providers, buyers and sellers?
3. What would be the strategic impact on existing players?
4. What legal issues exist?
5. How is security addressed?
6. What is the role of standards and technology?
7. What should be put in legislation and what should be left to actors?
8. How to avoid confusion (retain trust) towards buyers and seller?
9. How does XS2A tie into other regulatory fields such e-identity, SEPA, PSD and ECB recommendations on payment security?

With all of today’s questions we risk to regulate ‘the wrong thing’ and stall the market development in payments instead of advancing it. Also it is unclear how stakeholders can influence and give effective input to this process.

During the first XS2A day all topics mentioned concerning XS2A will be addressed for a first feel of the current thinking. The attendees are expected to come from banks, payment service providers, merchants, consumers, vendors, industry associations, central bankers and regulators.

One day program

In the morning part of this day practitioners, regulators and thought leaders will give their take on XS2A in brief 20 minute presentations. In the afternoon we will do three 45 minute parallel workshops in three rounds to address specific topics such as user experience & communication, roles & responsibilities and security. Groups will be smaller to allow for more interaction.

The day will end by a plenary wrap up where the conclusions of each session will be shared. This format will maximize the exchange of ideas among a variety of professionals. During this day, you will meet specialists from different communities and backgrounds, while extending your professional network with people who all share an interest in the domain of XS2A.