LIBRARY

WSO2 API Microgateway is a cloud-native, decentralized, highly scalable, immutable API gateway designed for microservice architecture (MSA). It provides security, authorization, routing, service discovery, and many more API management-related functionality while collecting information for rate limiting and analytics as well.

Introduction

Data is a precious asset, and the ability to collect, manage, and use it gives a competitive advantage to any digital business. Within microservices architecture, there are multiple practices and patterns to deal with data. This article discusses the patterns, limitations, and pitfalls around data integration in microservices and then moves on to a sample implementation.

Open banking is reaching global adoption. Regions like Singapore and Japan were strong advocates for open banking even before the Second Payment Services Directive (PSD2) regulation and they experienced tremendous success in doing so. Post PSD2, other countries like Mexico, Brazil, Hong Kong, Australia, and countries in the Middle East are coming up with open banking regulations. They are opening up their APIs in an effort to create a more open, competitive and customer-driven financial ecosystem.

Objective

The Regulatory Technical Standards(RTS) specification, published by the European Banking Authority (EBA), takes into consideration the requirements of PSD2 article 98 to define when and how SCA needs to be applied. The final report of the draft RTS document[1] was released on February 23, 2017.