Berlin Group openFinance
Berlin Group is a non-profit pan-European payments standards body that defines open, scheme-independent API and messaging specifications for PSD2, open finance, card clearing and mobile P2P, serving banks, payment schemes, processors and Third Party Providers across Europe and beyond.
- Company typePrivate
- Founded2004
- Headquarters—
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What Berlin Group openFinance does
Berlin Group is a pan-European payments interoperability standards and harmonisation initiative, established in October 2004 in Berlin and operated as a pure technical standardisation body rather than a commercial company. Its primary objective is to define open, common, scheme-independent and processor-independent technical standards for the interbanking domain between creditor and debtor banks, complementing the work of the European Payments Council and aligning with the aims of the European Central Bank, the European Commission, and the European Banking Authority. The initiative comprises 26 major payments industry participants from 10 euro-zone countries plus the UK, Sweden, Denmark, Norway, Iceland, Turkey, Bulgaria, Hungary, Serbia and Switzerland, collectively representing more than 30 billion card-originated transactions annually within SEPA.
The organisation's product portfolio consists of five core technical frameworks: the NextGenPSD2 Access to Accounts (XS2A) Framework enabling Third Party Providers to access bank accounts under PSD2 via RESTful, OAuth2, JSON and ISO20022 APIs; the openFinance API Framework extending PSD2 into premium commercial services such as Request-to-Pay, Pay by Loan, Reservation of Funds and SEPA Direct Debit eMandates; the SEPA Card Clearing (SCC) Framework providing ISO20022-based clearing of card transactions via SEPA Direct Debit infrastructure; the ISO8583 Authorisation and Clearing specifications for acquirer-to-issuer card processing; and the Mobile P2P Interoperability Framework enabling pan-European mobile payments. All specifications are published as royalty-free downloads under Creative Commons licensing, accompanied by OpenAPI files on GitLab and white papers on emerging topics such as SCT Inst for Cards and EMVCo tokenisation integration.
Berlin Group operates without commercial revenue: it is funded through cooperative industry participation rather than product sales, and participation does not commit any member to implementing the standards. Adoption, however, is broad - more than 75% of European banks and hundreds of Third Party Providers have implemented NextGenPSD2, giving Berlin Group approximately 80% European market coverage in deployed PSD2 Open Banking systems and positioning its standards as the de facto technical baseline for the upcoming digital euro programme, in which the ECB joined as an observer participant in April 2026.
Berlin Group openFinance firmographics
Firmographics- Name
- Berlin Group openFinance
- Legal name
- The Berlin Group
- Website
- https://berlin-group.org
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Berlin Group is a non-profit pan-European payments standards body that defines open, scheme-independent API and messaging specifications for PSD2, open finance, card clearing and mobile P2P, serving banks, payment schemes, processors and Third Party Providers across Europe and beyond.
- Ownership category
- akta.pro rank
Berlin Group openFinance industry classification
Industry- Product category
- Open Banking and Payment Interoperability Standards
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Other Activities Related to Credit Intermediation (522390), Computer Systems Design and Related Services (54151)
- SIC
- Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)
- akta.pro secondary industries
- A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), A2A Reconciliation, Reporting & Treasury Ops (FSAMAFAJ), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)
Keywords
Berlin Group openFinance business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Others
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Other | Free access to all published standards and frameworks |
Distribution channels2 records
Marketing channels5 records
Berlin Group openFinance product offering
Product offeringCore offering
The Berlin Group develops and publishes open, scheme- and processor-independent technical standards and API frameworks for European payment interoperability. Its portfolio covers PSD2 Access to Accounts (XS2A) via the NextGenPSD2 framework, the openFinance API framework for premium financial services beyond PSD2, the SEPA Card Clearing (SCC) framework for ISO20022-based card clearing, ISO8583 Authorisation & Clearing specifications for card processing, and the Mobile P2P Interoperability Framework. All specifications are published royalty-free under Creative Commons licensing for adoption by banks, payment schemes, processors, and third-party providers across Europe.
Product overview
The Berlin Group is a pan-European payments interoperability standards and harmonisation initiative established in October 2004, comprising 26 major payment industry participants from 10 euro-zone countries plus additional European nations. The organisation defines open, scheme- and processor-independent technical standards for interbanking domains, complementing the work of the European Payments Council. Their product portfolio consists of technical frameworks and specifications: the NextGenPSD2 Framework (core PSD2/XS2A open banking API standard), the openFinance API Framework (its extended superset for premium financial services), the SEPA Card Clearing Framework (ISO20022-based card transaction clearing), ISO8583 Authorisation & Clearing specifications (card processing standards), the Mobile P2P Interoperability Framework (mobile payment interoperability), plus supporting white papers on SCT Inst for Cards and Tokenisation. All specifications are published royalty-free under Creative Commons licensing.
Differentiator
Problem solved
Functional benefit
Brands
- NextGenPSD2: Access to Accounts (XS2A) Framework enabling Third Party Providers to access bank accounts under PSD2
- openFinance
- NextGenMobileP2P
- SEPA Card Clearing (SCC) Framework
Products and services
- NextGenPSD2 Framework (Access to Accounts / XS2A) An open banking framework that enables Third Party Providers (TPPs) to access bank accounts under PSD2, supporting Account Information Services (AIS), Payment Initiation Services (PIS), and Payment Issuer Instrument Services (PIIS). Built on REST, JSON, OAuth2, and ISO20022 standards. Used by banks/ASPSPs, fintechs, and payment processors across Europe for PSD2-compliant account access.
- openFinance API Framework An extended API framework beyond PSD2 regulatory scope that enables banks and TPPs to offer premium financial services including Pay by Loan, Request-to-Pay, Reservation of Funds, direct corporate access APIs, digital contracting, and SEPA Direct Debit eMandates. Integrates and extends NextGenPSD2 framework investments.
- SEPA Card Clearing (SCC) Framework An ISO20022-based framework providing XML message extensions to SEPA Direct Debit for clearing and settlement of card transactions via ACH infrastructure, enabling full Straight Through Processing (STP) for card clearing and reuse of existing SEPA Direct Debit infrastructure for 60-80% synergy.
- ISO8583 Authorisation & Clearing Scheme-independent ISO8583-based specifications for the acquirer-to-issuer interface covering card processing services at POS, ATM, e-payments, and MOTO, including authorisation, clearing, and settlement. Harmonised with ISO TC68/SC7/TG1 and ECSG/EMVCo European card standards.
- Mobile P2P Interoperability Framework (NextGenMobileP2P) A framework defining functional and technical requirements to enable pan-European interoperable and scalable Mobile P2P payment acceptance across the SEPA area, based on open industry standards, supporting aliases such as phone numbers for payment initiation.
Quantifiable outcome
- ~80% European market coverage for PSD2 Open Banking standards
- +3 more outcomes
Companies that use Berlin Group openFinance
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles3 records
Berlin Group openFinance technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Berlin Group openFinance partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered flagship and core.
- European Central Bank (ECB)flagshipThe ECB joined the Berlin Group as a non-voting observer participant. This reflects growing recognition of the importance of open, interoperable European standards. Consistent with the strong recommendation in the draft digital euro regulation to leverage open European standards that foster interoperability. The ECB will engage in the Berlin Group's standards development process.
- European Card Payment Cooperation (ECPC)corePartnership to provide CPACE contactless acceptance standards for digital euro payments, creating uniform digital euro payment experiences across the euro area. ECPC contributes CPACE contactless tap-to-pay specifications to the digital euro framework.
- nexo standardsflagshipCollaboration to align standards to support the European Central Bank in the further design of technical standards and implementation of the digital euro. The complementary standards of nexo and Berlin Group ensure full interoperability of digital euro payments across acceptance devices deployed by multiple private vendors.
- European Payments Council (EPC)coreCollaborative relationship in standards development, with Berlin Group complementing EPC work on SEPA payments. The Berlin Group acknowledges the broad diversity of existing payment schemes and aims to meet the aims of ECB, EC, EPC and ERPB regarding a Single Payment Area.
- European Banking Authority (EBA)coreNextGenPSD2 Framework is based on EBA Regulatory Technical Standards (RTS) for Strong Customer Authentication and Common and Secure Open Standards of Communication as adopted by the European Commission.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
Berlin Group openFinance competitors and assessment
Company assessmentBroad incumbents
- SWIFT: SWIFT operates global payment messaging standards (MT/ISO20022 migration) and provides the interbank communication backbone. While SWIFT is a messaging network rather than a pure standards body, its role in standardizing cross-border payment interoperability makes it a thematic peer for Berlin Group's interbanking standards work.
- EMVCo: EMVCo manages the global EMV specifications for card-based payments (contact, contactless, tokenisation). Berlin Group explicitly coordinates with EMVCo via the ECSG Volume; comparable in setting interoperable payment specifications at industry level, but EMVCo is owned by the major card networks (Visa, Mastercard, Amex, Discover, JCB, UnionPay).
Regional players
- Payments Canada: Payments Canada operates and evolves the Canadian payment systems (Lynx, Interac). It serves a comparable role as a national payments standards and infrastructure body, but focused on the Canadian market rather than pan-European interoperability.
- NACHA: NACHA governs the US ACH network and develops operating rules for electronic payments. Comparable as a regional payment standards/governance body in a different geography, focused on ACH and faster-payments rails rather than SEPA/card clearing.
Direct peers
- Financial Data Exchange (FDX): FDX is the US-led open finance standard for consumer-permissioned financial data sharing. Comparable in mission (unified API standard for account access and data sharing) and adoption-driven model, though geographically focused on North America and serving a different regulatory regime.
- European Payments Council (EPC): The EPC is the most direct peer: a pan-European payment standards coordination body developing SEPA scheme rulebooks (SCT, SDD, SCT Inst, SRTP). The Berlin Group explicitly complements EPC's work, making it the closest comparable in mission, scope, and European regulatory engagement.
- nexo standards: nexo develops open, scheme-independent acceptance standards for POS and payment terminals. Berlin Group has an active collaboration with nexo on digital euro standards, and both organizations target the same pain points: fragmented acceptance standards and proprietary card network dominance.
- Open Banking Implementation Entity (OBIE): OBIE set the UK's open banking API standard under CMA order. It is the most direct competing open banking standard framework to Berlin Group's NextGenPSD2, with similar mission (PSD2-aligned API standardization) but distinct geographic and governance scope.
- ISO Technical Committee 68 (TC68): ISO TC68/SC7 develops financial services standards including ISO20022 (the backbone of Berlin Group's openFinance and SCC frameworks) and ISO8583. Berlin Group explicitly harmonizes with ISO TC68/SC7/TG1 specifications, making it a direct peer at the formal international standards layer above Berlin Group's regional specifications.
Emerging players
- Reserve Bank Innovation Hub / IFSCA (India) — India Stack / Account Aggregator framework: India's Sahamati-led Account Aggregator ecosystem is a comparable open finance/consented data-sharing framework operating at national scale. It parallels Berlin Group's openFinance API mission (FIP/AA pattern akin to ASPSP/TPP) but serves the Indian market with its own governance and consent infrastructure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Berlin Group openFinance social profiles
Digital presenceBerlin Group openFinance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Berlin Group openFinance leadership team
Management profileNumber of profiles
Berlin Group openFinance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Berlin Group openFinance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Berlin Group openFinance
What does Berlin Group openFinance do?
The Berlin Group develops and publishes open, scheme- and processor-independent technical standards and API frameworks for European payment interoperability. Its portfolio covers PSD2 Access to Accounts (XS2A) via the NextGenPSD2 framework, the openFinance API framework for premium financial services beyond PSD2, the SEPA Card Clearing (SCC) framework for ISO20022-based card clearing, ISO8583 Authorisation & Clearing specifications for card processing, and the Mobile P2P Interoperability Framework. All specifications are published royalty-free under Creative Commons licensing for adoption by banks, payment schemes, processors, and third-party providers across Europe.
Is Berlin Group openFinance a public or private company?
Berlin Group openFinance is a private company. It is classified as unknown and is currently operating.
When was Berlin Group openFinance founded?
Berlin Group openFinance was founded in 2004. It employs 251 to 500 people.
Who are Berlin Group openFinance's main competitors?
Broad incumbents on record are SWIFT and EMVCo. Regional players are Payments Canada and NACHA. Direct peers are Financial Data Exchange (FDX), European Payments Council (EPC), nexo standards, Open Banking Implementation Entity (OBIE) and ISO Technical Committee 68 (TC68). Reserve Bank Innovation Hub / IFSCA (India) — India Stack / Account Aggregator framework is listed as an emerging player.
Does Berlin Group openFinance have an API?
Yes. The Berlin Group provides openAPI (YAML) specifications on GitLab for the NextGenPSD2 and openFinance Frameworks. These REST/JSON APIs based on OAuth2 and ISO20022 standards enable Third Party Providers (TPPs) to access bank accounts under PSD2, supporting Account Information Services (AIS), Payment Initiation Services (PIS), and Payment Issuer Instrument Services (PIIS). The NextGenPSD2 Framework is built on RESTful, OAuth2, and JSON standards with ISO20022 data elements. OpenFinance API Framework extends beyond PSD2 scope for premium services including Pay by Loan, Request-to-Pay, Reservation of Funds, direct corporate access APIs, and SEPA Direct Debit eMandates. Developer documentation is at gitlab.com/the-berlin-group/nextgenpsd2.
What industry is Berlin Group openFinance in?
Berlin Group openFinance's product category is Open Banking and Payment Interoperability Standards. Its primary akta.pro industry code is FSAMAFAB, A2A Payment Initiation Service Providers (PISPs), with a secondary code of FSAMAFAF, A2A Checkout & Merchant Acceptance Solutions. Its NAICS code is 522320 and its SIC code is 7373.