Open API Technology with Regulatory Expertise for Quicker Open Banking Implementations

Open banking has moved from being a regulatory obligation to a driver of competitive advantage. To thrive in this ecosystem, banks need to align their vision, culture, teams, and technologies to be customer-centric. While API management, security, and integration are the heroes of open API implementations, the speed and ease in which they work with a bank’s infrastructure is critical to its success.

Hear What the Experts Say

Solution at a Glance

WSO2 Open Banking is a software and services solution that helps quickly satisfy open banking requirements for financial institutions. It provides the technology for

Open APIs

  • Predefined API templates that support Open Banking UK, The Berlin Group, and STET API specifications
  • Strong customer authentication that adhere to the Regulatory Technical Standards (RTS) for PSD2 compliance
  • Transaction Risk Analysis based Adaptive Authentication
  • Compliance with EU General Data Protection Regulation (GDPR)

Third Party Services

  • API integration with multiple banks and third parties
  • Fraud detection
  • API monetization to realize revenue opportunities of these third party services
  • Consolidated API analytics for business insights

Digital Transformation
in Financial Services

  • Integration across third parties in and outside the financial domain
  • Advanced analytics that support data-driven sales and marketing strategies
  • Web and mobile app suites that cater to customer needs in a single platform
Open Banking

The WSO2 Advantage for Open Banking

  • Shorter technology implementation cycles that enable aggressive project deadlines

    Combines core open banking technologies with domain and regulatory specific enhancements allowing project implementation from day 1.

  • Reduces learning curves while increasing domain and regulatory expertise

    Includes a team of in-house subject-matter experts who work collaboratively with a bank’s IT team towards open banking project delivery.

  • Solution extensibility that reduces technology risk

    Backed by the WSO2 platform, WSO2 Open Banking can scale your digital agility to meet evolving regulatory and business needs.

  • A solution architecture that adapts to meet varying open banking needs

    A componentized architecture that can be mixed and matched to suit unique technology requirements for financial institutions of all sizes.

Interested in WSO2 Open Banking?

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