Pioneering Open Banking in Poland
Banking goes digital. We helped Token.io introduce Polish users to a new form of financial operations-while contributing to the creation of the Polish Standard API itself.
Token.io
About the Client
Token.io was founded in the USA in 2015 as an innovative open banking platform meant to provide secure payment services for online users globally. With 45 team members across 3 offices worldwide, they've connected over 3,800 banks-making them one of the fastest-growing startups in the fintech sector.
Our Approach
The KNF meeting gave us a support network of financial experts. We began registering banks in the Token.io database-each with different parameters and certificates of trust we had to obtain.
The team started with 1 project manager and 3 developers, later scaling to 8 developers as complexity grew.
Polish Standard API Development
- Participated in KNF (Financial Supervision Commission) meetings
- Collaborated with Polish banks to define API specifications
- Created custom plugins for banks with pre-PSD2 implementations
- Navigated diverse bank approaches and certificate requirements
- Contributed to shaping the Polish Standard API
Bank Registration & Certification
- Registered banks in Token.io database with unique parameters
- Obtained trust certificates for each financial institution
- Handled varying authentication flows across banks
- Sandbox testing and production validation
- Documentation for each integration
AISP & PISP Implementation
- Account information service provider (AISP) flows
- Payment initiation service provider (PISP) capabilities
- Multi-bank consent aggregation
- Strong Customer Authentication (SCA) handling
- Data normalization across bank formats
PSD2 Compliance
- Full alignment with European Parliament PSD2 Directive
- Third Party Provider (TPP) requirements fulfilled
- September 2019 deadline achieved
- Production rollout coordination with banks
- Ongoing monitoring and support
The Background
As a result of the European Parliament regulation known as PSD2 Directive, banks were required to open their APIs to Third Party Providers (TPPs). The deadline was September 2019.
Token.io, as a TPP that fully meets PSD2 requirements, reached out to Binar at the beginning of 2019 to help them reach Polish banks and connect to their APIs.
The challenge: When Token.io asked for Polish Standard API specifications, we discovered that no such thing existed yet-it was still in the making. What started as an integration project became a pioneering effort in shaping Poland's Open Banking infrastructure.
The Journey
This was one of the biggest challenges in Binar's history-not just finding common language with an overseas client, but doing groundwork in the field of digital finances as a whole.
Token.io approached Binar for Polish bank integration
Discovered Polish Standard API was still in development
Invited to KNF meeting with Polish bank representatives
Bank registration and integration work
10 of 14 Polish banks live with Token.io connectivity
The KNF Meeting
In June 2019, Binar was invited to a meeting organized by the Financial Supervision Commission (KNF). Representatives of Polish banks shared their views on what features the Polish Standard API should have to meet PSD2 norms. The approach varied from company to company-for example, one bank had started working on their API before PSD2 was even proclaimed, requiring us to build a special plugin for Token.io to connect to that specific bank.
Banks Integrated
Out of 14 Polish banks, 10 followed PSD2 regulations as of 14 September 2019, making it possible to connect with Token.io.
Poland
10 of 14 banks live on launch day
Germany
Extended coverage post-Poland
And more...
The Outcome
Binar became one of the first companies in Poland to successfully tackle the work mandated by PSD2. Token.io now has access to Polish banks, enabling their business to grow further. Polish banks can be confident that their APIs are compatible with TPPs from outside Poland.
"At Binar, we are very proud that-apart from doing a good job-we had a hand in creating the Polish Standard API."
Building Open Banking integrations?
Let's discuss how our PSD2 expertise can help you navigate European Open Banking requirements.
Let's Talk