Tink, the Stockholm-based open banking platform, sent an open letter to European regulators to request some flexibility around the Sept. 14 deadline for PSD2, a warning that not a single financial institution has met the requirements to be in compliance. 

The deadline required banks and other financial institutions to open their APIs to third-party providers that would enable them to access customer financial data in order to create new banking products. 

The open letter sent on Wednesday to National Competent Authorities in Europe said that about 36% of the published APIs were not functional and 26% were entirely unavailable. 

"Put simply, if we are forced to migrate to a substandard API environment, many people may find themselves not being able to use the online or mobile-based banking services they have become accustomed to over the past few years," Tomas Prochazka, vice president of product at Tink, wrote in the open letter. 

The letter notes that regulators in France, Germany and the U.K. have already shown the willingness to be flexible and asks that other nations follow suit. 

 Logo courtesy of Tink.