14 September 2019 was the deadline for implementing the regulations stated in the second Payment Services Directive (PSD2) by the European Banking Authority, However, the UK's Financial Conduct Authority has provided a 6-month extension (14 March 2020) for Third Party Providers (TPPs) and 18 months for banks and payment gateways to implement Strong Customer Authentication (SCA). The national regulators in different countries in the EU have been providing extensions to payment gateways for implementing SCA. Depending on the country, the SCA implementation will happen in a phased manner. Zoho have been working on ensuring that the banking and payment services within the Zoho Finance Suite are not disrupted.

Open banking is a part of the PSD2 that requires banks to share the customer's financial data only with authorised service providers. Most of the bank feeds are expected to work normally in Zoho Books. However, if you would like to know the status of a particular bank you've connected with, you can view it in the bank list page of the Banking module. As the due dates have been adjusted, customers in the UK might be able to continue to fetch feeds through Yodlee (zoho's third party service provider) till 14 March 2020 based on the bank's discretion. In cases where the bank feeds fetched by Yodlee stops working, we recommend you to import bank statements manually. Zoho are also working on fetching feeds through a new service provider. 

SCA (Strong Customer Authentication) requires payment gateways to support more secure forms of multi-factor authentication. With Zoho Finance offering integrations with multiple payment gateways, Zoho have been working to ensure that the integrations are SCA compliant. Some of the payment gateways are already SCA compliant and the others are expected to be compliant before 14 September 2019. Based on the payment gateways you've integrated with, the status of compliance and what you'll have to do about it have been listed on the integrations page. At the moment, there's no action required from your end but some gateways might require you to set up additional authentication options.

For the latest update on Zoho Books and Bank feeds please visit the Open Banking Status page.