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Privacy By Design as a System Design Strategy: Part 1

We live in a global village today. For instance, raw materials of a product may originate from several countries, the product may be designed in one country but assembled in another country, and sold all over the world. Banking is an ideal example of the present day global reality. Data sharing practices in the banking industry used to be very conservative and restrictive, but they have significantly changed now. Open banking initiatives in Europe, UK, and Australia aim to share and open banking data with other banks and institutions.

Digital Transformation for Businesses Using APIs

This article explains how a business can take maximum advantage of digital transformation to expand boundaries with the aid of APIs. It focuses on digitizing contracts, enabling service management, securing digital services, and facilitating customer-focused decision making among other things.

A Deep Dive of Transaction Risk Analysis for Open Banking and PSD2

This article will discuss the basics of Transaction Risk Analysis and how it affects strong customer authentication (SCA) in the second Payment Services Directive (PSD2) accounts/payments flows.

UMA 2 in Action: Part 2

This is the second part of our article series which explores practical use cases of User-Managed Access (UMA 2.0 or UMA 2). The primary focus of this article is to discuss a UMA 2 specification known as the Federated Authorization for UMA 2. This specification standardizes interactions among the authorization server (AS), the resource server (RS), and the resource owner (RO).

Understanding the Open API Specification for Australia

Open banking is a game changer for the financial services industry in Australia. Securely opening up banking data in a standardized form with the intent of improving customer experiences is the main goal of the Consumer Data Right (CDR). This notion is backed by the Treasury and the Australian Competition and Consumer Commission (ACCC). The idea of opening up data through APIs to be consumed by accredited third parties may pose several security concerns to banks.

Brownfield Integration: Why It's Important For Modernizing Your Enterprise

Transforming a conventional business into a digital business is essential to expand the business and increase its productivity. Integrating heterogeneous systems and building an ecosystem with these integrated components are fundamental requirements in the digital transformation of enterprises. Many organizations have one or more legacy systems that provide limited support for integrating with other systems. However, it is impractical to replace all existing systems by building them from scratch.

APIs and Beyond - Getting Your Technology in Place for Open Banking Australia

This article examines the key technology components required for open banking in Asutralia and how to build your technology vision to stay true to your open banking goals.

UMA 2 in Action: Part 1

Privacy has become a very significant global concern, not limited to any specific country or geographical area. Massive data breaches, data misuse by some large enterprises, and unauthorized surveillance have fueled large scale social movements that demand better privacy regulations and secure technologies. The General Data Protection Regulation (GDPR) in the European Union and the California Consumer Privacy Act (CCPA) are some of the best examples of modern-day privacy regulations that try to address key privacy concerns at present.

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