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PSD2 and Open Banking APIs define a set of framework requirements for the underlying technologies to be implemented to achieve PSD2 compliance.
But further consideration of the ramifications of GDPR are prompting banks to focus on the API Security Strategy for the implementation that can provide for the required compliance aspects of authentication, authorization, and data privacy controls.
Adopted in 2007, the Payment Services Directive (PSD) “provides the legal foundation for an EU single market for payments, to establish safer and more innovative payment services across the EU.” Legislated by the European Commission, the objective of the PSD “is to make cross-border payments as easy, efficient and secure as ‘national’ payments within a Member State.” To accommodate the rapid rise of new online payment providers – third-party payment providers (TPPs) – the European Commission proposed a revision in 2013.
Building on the PSD’s key principles, PSD2 was ‘born’ to make payments safer and more secure, enhance consumer protection, foster innovation and promote competition while ensuring a level playing field for all payment service providers.
”Steve Posnack, director of the Office of Standards and Technology at ONC, notes that ONC’s Interoperability Standards Advisory already references FHIR for several interoperability needs.
“With respect to certification, ONC is actively observing FHIR’s maturity from a standards perspective as well as its overall use in industry,” says Posnack.
Charles Schwertner, R-Georgetown, means that state agencies will now have someone making sure they comply with the law.
The bill grants that responsibility to the Texas Workforce Commission; Perry’s order did not have an enforcement mechanism.
Unlike Perry’s mandate, the Senate bill only applies to state agencies and not the companies that contract with them.
To do it arbitrarily now would be a big mistake.” Also See: Timeline is uncertain for release of normative version of FHIRWhile still in its early stages, FHIR “has been identified as a rapidly emerging standard and is currently garnering the most industry-wide support to be adopted,” according to Kim Nolen, a member of the HIT Standards Committee and co-chair of the 2017 Interoperability Standards Advisory Task Force.“It’s not a regulatory requirement.
However, many leading EHR vendors are implementing FHIR to meet regulatory API requirements,” Nolen told last week’s joint meeting of the HIT Policy and Standards committees.