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Open Banking Solutions

We empower financial institutions and fintechs to leverage Open Banking by developing secure APIs, enabling third-party provider (TPP) integrations, and creating innovative customer-centric financial services.

Design Approach
API-First
Data Sharing
Secure
Financial Services
Innovative
Compliance (PSD2, etc.)
Regulatory
  • Secure API Development (AIS & PIS). Develop robust and secure APIs for Account Information Services (AIS) and Payment Initiation Services (PIS) compliant with Open Banking standards.
  • Third-Party Provider (TPP) Integration. Facilitate seamless and secure integration with authorized TPPs, enabling them to access data and initiate payments with customer consent.
  • Consent Management Platforms. Build sophisticated consent management systems that allow customers to easily grant, manage, and revoke access to their data.
  • Value-Added Service Development. Leverage Open Banking capabilities to create innovative financial products and services, such as account aggregation, PFM tools, and tailored lending.
  • Regulatory Compliance & Security. Ensure your Open Banking solutions adhere to relevant regulations (e.g., PSD2, CDR) and implement stringent security measures for data protection.

Our Approach - Pioneering Open Banking Together

We help you navigate the complexities of Open Banking to unlock new opportunities and drive innovation.

  • Strategic Open Banking Roadmap. We help you define your Open Banking strategy, identify opportunities, and navigate the regulatory landscape.
  • API Design & Standardization. Design APIs according to industry best practices and standards (e.g., OpenID FAPI, specific regional standards) for interoperability.
  • Robust Security & Fraud Prevention. Implement strong customer authentication (SCA), secure API gateways, and advanced fraud monitoring for Open Banking transactions.
  • Developer Portal & TPP Support. Create comprehensive developer portals and provide ongoing support to foster a vibrant TPP ecosystem around your APIs.

Key Benefits - Benefits of Adopting Open Banking

Embrace Open Banking to enhance customer value, foster innovation, and stay competitive in the evolving financial landscape.

  • Increased Innovation & Competition. Foster a competitive market by enabling fintechs and TPPs to develop new financial products and services.
  • Enhanced Customer Experience. Offer customers greater choice, convenience, and personalized financial management tools by integrating TPP services.
  • New Revenue Streams. Monetize your APIs or develop premium Open Banking-enabled services to create new revenue opportunities.
  • Improved Data Insights. Gain deeper insights into customer behavior and financial data (with consent) to offer more tailored products.
  • Streamlined Customer Onboarding. Utilize data from other financial institutions (with consent) to simplify and accelerate customer onboarding processes.
  • Regulatory Preparedness. Comply with evolving Open Banking mandates and position your institution for future financial ecosystem changes.

Open Banking Questions

Traditional banking typically keeps customer data within the bank's closed systems. Open Banking mandates (or encourages) banks to share customer data (with consent) with authorized third-party providers (TPPs) through secure APIs, fostering greater competition and innovation.
Open Banking is designed with security at its core. It requires Strong Customer Authentication (SCA), secure APIs, and explicit customer consent for data sharing. TPPs are often regulated and must adhere to strict security standards.
The Second Payment Services Directive (PSD2) is an EU regulation that mandates Open Banking for banks in Europe. It requires banks to provide access to customer account data (AIS) and allow payment initiation (PIS) by authorized TPPs.
AIS allows TPPs (with consent) to access a customer's bank account information from multiple banks and display it in a consolidated view. PIS allows TPPs (with consent) to initiate payments directly from a customer's bank account on their behalf.
Benefits include the ability to offer innovative services by partnering with fintechs, creating new revenue streams, enhancing customer experience and loyalty, improving data analytics capabilities, and complying with regulatory mandates.

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Our offices

  • Johannesburg
    114 Summerplace, Summerfields Estate
    Johannesburg, Gauteng, South Africa
  • KwaZulu-Natal
    6 Pinkie Pool Road
    Meer en See, KwaZulu-Natal, South Africa