← Back to glossary Category: Financiar · Acronym: PSD2 PSD2 (Payment Services Directive 2) Quick answer: The EU directive requiring banks to open secure API access to accounts for authorized providers — the legal foundation of open banking. Key takeawaysEnabled regulated access to account statements (AIS) and payment initiation (PIS).Introduced SCA (Strong Customer Authentication) — two-step authentication.Required banks to expose dedicated interfaces instead of screen-scraping. What PSD2 is PSD2 (the second Payment Services Directive) is the EU regulation, transposed in Romania, requiring banks to provide authorized third-party providers (TPPs) secure API access to accounts, with the customer's consent. It created the legal basis for open banking and Strong Customer Authentication (SCA). What it changed Enabled regulated access to account statements (AIS) and payment initiation (PIS). Introduced SCA (Strong Customer Authentication) — two-step authentication. Required banks to expose dedicated interfaces instead of screen-scraping. Why it matters operationally PSD2 is why a company can authorize an app to read its statements from all banks automatically — legally, securely, revocably. Without PSD2, automated reconciliation would depend on manual downloads. Relation to Azuvio Azuvio uses regulated PSD2 access to automatically pull statements from the company's banks and feed them to the reconciliation engine. Access follows SCA and can be revoked at the bank anytime. Frequently askedDoes PSD2 apply in Romania?Yes. PSD2 is an EU directive transposed into Romanian law; Romanian banks provide open-banking access under these rules. Where Azuvio fitsReconciliere bancară automatăConformitate fiscală ANAFSoftware OMSConectori ERP Related termsOpen Banking — The standard letting authorized third-party apps securely connect, with the company's consent, to bank accounts to read statements and initiate payments — the basis of automated reconciliation.AIS and PIS — The two PSD2 open-banking services: AIS (account information / statements) and PIS (payment initiation) — used for reconciliation and automated payments.Bank reconciliation — Matching each bank-statement transaction to its invoice, order or payment — automated through open banking. Last updated: 2026-07-06