The PolishAPI standard is the key part of the Open Banking on the Polish financial market. It is defining the interface enabling third parties to access payment accounts, based on amended directive on payment services in the internal market (PSD2).
The PolishAPI constitutes a response of the Polish payment sector (banks and non-banking entities) to the need for the reinforcement of financial innovations in Poland in a non-discriminatory and sustainable manner.
The objective of the initiative is also to reduce the costs of implementation of the PSD2 Directive (and other accompanying legal acts) for the payment institutions and third parties.
The standard creators assume its permanent development in response to regulatory, technological and business changes in the Polish and European markets. The changes shall be published as subsequent versions of the Polish API standard specification.
The project participants include: the Polish Bank Association together with commercial and cooperative banks, cooperative savings and credit unions (SKOK), the Polish Organisation of Non-banking Payment Institutions (PONIP) together with its associated members, the Polish Chamber of Information Technology and Telecommunications (PIIT), the Polish Insurance Association (PIU), Krajowa Izba Rozliczeniowa, Biuro Informacji Kredytowej, and Polski Standard Płatności.