SBS launches new version of open banking platform in Europe

SBS, a global financial technology company serving over 1,500 financial institutions, has launched a new version of its open banking platform, aimed at helping banks deliver next-generation digital payments and embedded finance services across Europe.

This upgraded, cloud-native SaaS platform enables banks to accelerate digital transformation while ensuring compliance with evolving regulatory frameworks.

The SBP Open Banking Platform is built on PSD2 foundations and now extends support to FDX, PSD3 PSR1 (Berlin Group v2), and upcoming frameworks such as FIDA and Digital Euro.

The platform also expands its capabilities to include next-generation digital payments such as Wero and embedded finance use cases, including credit insights powered by Algoan.

SBS now offers banks the ability to quickly and securely integrate Wero, the digital wallet under the European Payments Initiative (EPI).

Serving as an orchestration layer between EPI central services and a bank’s core systems, SBP stated that it ensures compliance with the EPI roadmap in countries such as Belgium, France, the Netherlands, and Germany.

The platform allows banks to launch Wero as a standalone service or have it embedded within existing digital experiences, thereby eliminating the complexity of ongoing maintenance and roadmap alignment.

The platform supports advanced credit use cases, including leasing and Buy Now Pay Later (BNPL), and helps banks comply with the Digital Consumer Credit Directive (DCC2). These capabilities enable financial institutions to offer enhanced credit services.

In terms of regulatory and standards coverage, the platform now supports interoperability standards like FDX (US), PSD3 PSR1, with Berlin Group v2, and is FIDA ready. This allows institutions to stay ahead of regulatory changes and unlock new business models, stated SBS.

Early adopter banks in Europe and North America are claimed to be already leveraging the next-generation SBP Open Banking platform to speed up their open banking and Wero payment strategies.

SBS stated that the new release positions it as the orchestration layer for modern payments and open banking.

With support for Wero, advanced credit services, and global standards like FDX (US) and Berlin Group v2 (Europe), SBS is stated to empower banks to manage next-generation payments and open banking from a unified platform.

This approach accelerates time-to-market, simplifies regulatory compliance, and enables seamless rollout of new payment services—eliminating the need for complex custom integrations or continuous roadmap updates.

SBS Open Banking lead product manager Nicolas de Genot said, “We’re helping banks turn regulatory change into opportunity. With Wero integration, expanded regulatory coverage, and new standards like FDX and Berlin Group V2, institutions can deliver innovative services faster, securely, and at scale, without the burden of ongoing compliance and updates.”

Additionally, the SBP Open Banking Platform integrates Axway’s Amplify iPaaS, providing enterprise-grade control for secure data management and seamless user experiences.

"SBS launches new version of open banking platform in Europe" was originally created and published by Retail Banker International, a GlobalData owned brand.

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