Banking – In the Real-Time Era

Financial institutions have been allowed to make transfers in real time within the EU since November 2017. Now banks in Germany have begun to implement this European standard. Deutsche Bank and the Volks- and Raiffeisenbanken want to follow. This brings transfers into the real-time age of the Internet, as we have been used to for a long time. The instant era has long since begun with video downloads, sending e-mails, search queries and blog posts. It takes a little longer at banks.

One of the reasons for the hesitant reaction of banking IT is the high-security requirements to which transactions are subject. Another reason, which is usually conceded only behind closed doors, is seen in the application infrastructure that has grown over decades: In fact, financial institutions employ hundreds of IT experts just to maintain the monolithic application towers and to maintain the status quo.

It doesn’t have to be like that; security and speed are not incompatible. They are the result of modern architectures as we offer them with the actesy framework. We have already been able to prove at several institutes that innovative solutions for customer retention and improved user experience can be integrated into existing applications without million-dollar budget.

One example of this is PSD2, an abbreviation that requires banks to prepare themselves as central hubs in payment transactions for various payment processes and the associated exchange of account data. If a customer pays for goods at the online store and debits the account of his bank, the store operator can call for additional account data in the future.

The second version of the Payment Services Directive presents banks with the challenge of providing greater openness: account data must be passed on free of charge and without conditions to third parties as partners in online payment transactions (e.g. card providers, merchants, financial startups or customers).


On the other hand, banks must also offer more security. Every request for customer data received via an API (Application Programming Interface) represents a security risk that can only be countered with a complication-free authentication. All in all, financial institutions are thus burdened with more responsibility towards their customers, which is difficult to handle due to the high enquiries and can therefore lead to uncertainty on both sides.

With the help of the actesy framework, we have mastered this triple challenge at several institutes by providing the data necessary for the PSD2 information for the APIs, but not allowing any external access to the bank’s internal IT. At the same time, we used this scenario to set up a new customer service department. Bank customers can also communicate with each other via the actesy framework and network via purchases made and recommend special offers.

This way, financial institutions position themselves as “Every-Day-Banks” that are there for their customers in every situation in life and provide a platform of trust for their customer community.

By the way, the PSD2 directive should be implemented in every financial institution by the end of the year. We are happy to help you on your way into the real time age… Our promise is: We secure your investments because we are fast, flexible and innovative. Skeptical? Then test us. We look forward to hearing from you at info@actesy.com

See you on your digital project!