What is the RTS?

The Regulatory Technical Standards (<a href="/glossarycollection/regulatory-technical-standards" style="color:#48277C;" target="_blank" title="Regulatory Technical Standards">RTS</a>) is a piece of regulation from the European Banking Authority (<a href="/glossarycollection/european-banking-authority" style="color:#48277C;" target="_blank" title="European Banking Authority">EBA</a>) that interprets the technical security standards required by The Second Payment Services Directive (<a href="/glossarycollection/the-second-payment-services-directive" style="color:#48277C;" target="_blank" title="The Second Payment Services Directive">PSD2</a>) for providing secure access to payments accounts. As well as providing the requirements for Strong Customer Authentication (<a href="/glossarycollection/strong-customer-authentication" style="color:#48277C;" target="_blank" title="Strong Customer Authentication">SCA</a>) and its related exemptions, the RTS also provides the requirements for Open Banking interfaces and the secure use of credentials and communications. There are 5 chapters in the RTS standards document and Chapter 2 covers SCA.