What Open Banking is ?

Open Banking is the secure way to give providers access to your financial information. Open banking—a platform-based business approach—could revolutionize how banks generate value. With increasing pressures from regulations (PSD2, PCI DSS, SOX) and competitors, open banking offers leading banks the opportunity to expose data, algorithms and processes through application programming interfaces (APIs) and create new revenue streams, like today’s successful digital giants leveraging technologies like Oauth2, OpenID Connect and CIAM !
Banks are at risk if they fail to address open banking. They could miss out on platform-based business models and the strategies they enable. And they could fail to meet consumer demands for seamless digital experiences. Open banking could make all the difference to banks’ digital transformation programs.

Open Banking should revolve around following key performance indicators:
  • Security
  • Business value
  • Customer experience
  • Platform offerings
  • Developer experience

Open Banking covers following core components:

  • API Specification
  • Security Profiles
  • Customer experience
  • Customer Experience Guideline
  • Operational Guidelines

Partner with us to Build a thriving digital future and turn threats into opportunities We help you with API Gateway, API management using protocols like Oauth2 and OpenID connect.