What are Regulatory Technical Standards (RTS)?

The RTS or Regulatory Technical Standards are a set of compliance specifications provided by PSD2 which were drawn up by the European Banking Authority. They concern:

1. strong customer authentication (SCA) and common and secure open standards of communication (SCA-RTS)
2. security measures to protect the confidentiality and the integrity of the customer’s security credentials
3. common and secure open standards of communication between banks, service providers and customers
4. fraud reporting

The RTS states that all interfaces within the open banking ecosystem must use eIDAS certificates for identification and that APIs provided by the ASPSPs must be open to third-party providers.