What You Need to Know About Training Available for WSO2 Open Banking
- Paramee Samarathunga
- Technical Writer - WSO2
Image credits: Erol Ahmed on Unsplash
A Quick Glance at Open Banking
Open banking is a solution that provides banking and financial institutions with the technology to transform their existing banking services and data and expose them securely and with consumer consent to third party providers (TPPs)/vendors. These, in turn, provide the ability for TPPs like fintechs to aggregate customers’ banking information, initiate payments, confirm funds, and notify TPPs when events occur. Many new use cases for open banking are continuously being developed, from financial advisory, personal finance management (PFM), and credit-related services. In many countries, open banking has been initiated through government regulation via specifications and guidelines defined differently according to the technologies and capabilities that are relevant locally.
WSO2 Open Banking provides a solution that enables open banking capabilities at financial institutions. This includes regulatory conformance covering leading specifications (e.g. the Open Banking Standard in the UK, the Consumer Data Right in Australia, and the Berlin Group NextGenPSD2 standard in the EU) and enabling successful collaboration with TPPs to provide innovative service offerings to consumers.
Our solution also provides training and documentation to those who need to learn more about and try out the solution. WSO2 Open Banking training is available for both our existing customers and anyone who wishes to evaluate this solution before choosing a solution that matches your requirements. Our documentation is available for anyone and you can access the documentation for the latest release whatever text you want to linkhere. I will share some training options available for WSO2 Open Banking in this blog.
Why Should You Have a Look at Our Training?
For developers, architects, partners, and customers who wish to master WSO2 Open Banking, training provides additional support. It boosts user adoption of WSO2 Open Banking through try-outs and examples. Currently, WSO2 Open Banking provides an open banking solution to comply with the following specifications:
- The Open Banking Implementation Entity of the UK
- The Berlin Group NextGenPSD2
- The Consumer Data Standards (CDS) of Australia
In order to configure, set up, maintain, and troubleshoot the solution, our training enables you to familiarize yourself with the solution with access to our public documentation.
Key Features of WSO2 Open Banking Training
Our training sessions address different levels of users, targeting users who are completely new, those who are moderately-familiar, and experts in the domain. Since technology and open banking specifications and guidelines evolve frequently, constant updates are mandatory for the solution, training, and documentation. Therefore, WSO2 Open Banking training is compiled in a way to present the most up-to-date information in a user-friendly manner.
Trends and Approaches to Deliver Training
Training is offered in two ways - Self-paced training and instructor-led training.
For more information on the training types and what we offer, see WSO2 Training: What We Offer.
Currently, we offer instructor-led training for CDS compliance while self-paced training is to be released soon on the WSO2 Learning Management System (LMS). Instructor-led training includes an experienced instructor present throughout the sessions, live demonstrations, and tryouts. You may request WSO2 Open Banking training for CDS compliance here.
How Did We Adapt Our Training During the COVID-19 Pandemic?
Now that much of the world is quarantined or subject to various forms of social distancing, everyone is adapting the work from home model. Through this period, we are continuing to offer our training with both an expert instructor’s presence and demonstrations. Even though it is virtual, these are interactive sessions where trainees have the opportunity to raise questions and follow-up with the instructor. Now, if you are feeling nostalgic about your good-old-days in university, we bet that this will give you the chance to relive your experiences! We recommend trainees to take advantage of the questionnaire sessions and follow up with us if you come across any difficulties.
Even though WSO2 Open Banking is yet to release self-paced training, you can take a look at the self-paced training programs offered by WSO2’s Identity and Access Management and API Management teams. These are free and, as WSO2 Open Banking is built using these products, they will help you understand the full capabilities of the solution better. For more information on how to access WSO2’s free online training resources, read this blog.