– Open Banking Live: Provides open and secure APIs, which give Financial Institution’s clients the option of granting access to authorized external providers to their bank account data. Allows easy integration of third party tech providers (TPP), enterprise resource planning (ERP), and other players, enabling API monetization.
Open Banking
Live & Pro
– Open Banking Live Pro: Financial Institutions can create their own marketplaces, expanding B2C solutions by incorporating third party providers into a front-end platform.
Features
- Generation and integration of standardized APIs
- Exposure of APIs via Developer Portal
- Design and development of the Developer Portal
- Maintenance of the infrastructure
- Transparency of data, subject to customer consent
- An API management tool
- A Sandbox to test solutions prior to going live
- Metrics and data analytics
Benefits
Create new revenue streams, easy-to-use and flexible way to monetize APIs
Integrate banking into client’s lifestyle, and expand customer reach
Build a proprietary ecosystem of financial and non-financial players
Position the institution as a leader in technology and continuous innovation
What does this use case enable
a company to achieve?
Financial Institutions can maximize the potential of monetizing APIs in different modalities.
– Data can be used by third party providers to provide additional services. The Financial Institution monetizes use of data through API consumption.
– Corporate ERP’s can get connected to the Developer Portal in order to transfer payments to the Financial Institution.
– Third Parties can connect to the Developer Portal in order to use Financial Institutions’ infrastructure (Visa, Swift, etc), bank license, or back end services (credit scoring, etc). See Banking as a Service.
