As an enabler of open banking, our job is to make API-led collaboration and innovation (i.e., true digital transformation) between you and your partners as easy as possible.
Our October 2020 release simplifies scaling your open banking capabilities. We are happy to announce standards-compliant support for microservices architecture and several more enhancements to help you build new open banking use cases more easily. With these new capabilities, WSO2 Open Banking 2.0 improves how we help your developers and business teams create, quickly deploy, manage and monetize APIs that add real value for your internal teams, partners, and consumers.
Accelerated by the wider consumer adoption of open banking use cases and the impacts of COVID lockdowns globally, more and more banks are looking at open banking as a key aspect of their digital transformation. Within this context, our teams helped a London-based bank overcome legacy tech, keep their APIs up 24/7, and expand their target customer base via partners to millennials demanding anytime banking. Another CMA9 subsidiary customer is now focused on doubling third-party providers (TPPs) onboarded with them in the coming months. We also brought Australian banks online with the Consumer Data Right, fully compliant and on time, and enabled them to build advanced open banking use cases out-of-the-box.
These use cases have been possible based not only on our commitment to delivering open banking on the back of industry-leading API management and integration technology. Our consistently updated documentation, highly responsive support and delivery, and open banking consultancy, help your teams understand both our technology and, importantly, how to deploy it most effectively coupled with an effective open banking strategy
The solution now brings open banking standards-compliant support for WSO2’s cloud-native, developer-centric, decentralized API gateway for microservices. This adds extensive scalability to the bank’s API-led product and services innovation. The microgateway deployments are based on Docker and Kubernetes, greatly simplifying the process of creating, deploying, and securing APIs within distributed microservice architectures.
Microservices architecture enables replacing hundreds of enterprise apps within the bank with thousands of microservices. The capacity for exponential growth in the creation of API-based services delivers a far higher potential for commercial success for the bank’s collaborative innovation efforts between internal teams and with partners.
The Consumer Data Standards version 1.3.1
The Open Banking Implementation Entity’s Open Banking Standard version 3.1.5
The Berlin Group NextGenPSD2 XS2A Framework Implementation version 1.3.6
Commercial capabilities
Enhanced UX & simplifying workflows
Security
Sign up for our release webinar to get a more interactive introduction to WSO2 OB 2.0!