Open Finance

Responsiv provide cost-effective and flexible Open Finance solutions that efficiently and securely meet regulatory demand.

Are you aware of your Open Finance obligations?

Open Finance extends the benefits of Open Banking, increasing the availability of customer information and financial products, including information about insurance, investments, pensions, mortgages, loans, and more.

It is no longer just banks and building societies that need to demonstrate compliance, with Open Finance incorporating the wider Financial Services Industry.

Is your Open Banking solution capable of adjusting to the wider scope of Open Finance?

Is your existing solution providing the agility you need to meet the various local API standards?

Is your solution still cost-effective to maintain?

Answer yes to the above with Responsiv

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Open Finance Gateway

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Client-Side Bridge

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API-315 Pack

The Responsiv Cloud Open Finance Gateway is the latest iteration of the (award winning) Responsiv Open Banking Gateway; expanding capabilities in line with the scope of Open Finance.

Our Open Finance Gateway is an API hosting service configured and managed by Responsiv to the standards of resilience and security expected by the Financial Services. It acts as the ‘middle-man,’ to access and make data available for Third-Party Providers (TPPs).

The service includes fundamental capabilities needed to support, monitor, manage, and maintian Open Banking and Open Finance APIs. All components of the service, including hosting, data storage, and support are delivered from the UK.

This Open Finance Gateway requires installation of an API Pack to support specific API sets and standards. Packs are currently available for various versions of Open Banking UK APIs and Dutch Tax AML APIs.

The Responsiv Unity Client-Side Bridge is used by the Open Finance Gateway to manage secure connections between internal systems and the Responsiv Cloud.

It can be configured to perform integration between standardised API calls made by a cloud platform, and one or more internal systems.

The advantages of having a Client-Side Bridge include

1. Protocols can be changed from those used internally (REST, Webservice, RPC, etc) to MQ or compressed formats to pass across the Internet or into the Responsiv Cloud
2. The bridge is a single point of control for all ingress and egress of data, the indirection allows for internal systems to change their network locations, and be replaced or upgraded, without changes to the Cloud service or platform.

The Responsiv Cloud Open Banking API-315 Pack extends the Gateway to deliver core API functionality needed to satisfy PSD2/XS2 regulations in line with the Open Banking UK standards.

The exact needs to satisfy the regulation will vary depending on your specific website offerings and are subject to change as the regulation changes. In all cases it remains your responsibility to assure regulatory compliance.