The European Union have ruled that traditional banks are uncompetitive and slow, and innovative financial services have a hard time breaking into the market. Thus, the EU has passed a new legislation (Payment Services Directive, PSD2), which requires banks to open up their information systems through a new type of API. This API allows third party Fintech apps and services to get information directly from your bank. It is obvious that such an API poses significant information security and privacy threats to banks and their end-customers.

The prospective student will develop a demo app capable of utilizing the Open Banking API (and potentially other PSD2 compatible APIs) to get account information from multiple banks and initiate payments, while using state-of-the-art authentication and authorization technology.

Required skills: good command of English, knowledge of PSD2, PKI and Java

Preferred skills: familiarity with REST APIs, banking background

[1] Mansfield-Devine, Steve. "Open banking: opportunity and danger." Computer Fraud & Security, 2016.