We recently sent out our “Open Banking in a box” brochure to clients detailing how we help financial institutions to gain a competitive edge through Open Banking APIs whilst at the same time meeting the PSD2 RTS regulations. Much has changed in the two months since we last contacted clients, not least the passing of the first deadline for the implementation of the Sandbox, the potential demand for services and the approach that many institutions are taking.
Many organisations have now addressed the March 14th deadline by acquiring a purpose built multitenant cloud Sandbox from vendors like ourselves, however some organisations are still searching for a solution and seeking extensions to the deadline. However, what we have started to see, is that many small to medium sized institutions have solved the Sandbox problem in isolation in order to hit the regulatory deadlines but are now starting to look at the bigger picture of opening up real customer data and core systems to the world through the Open Banking APIs.
Responsiv Solutions serves clients in many industries; however, we have a specialist focus on financial services and indeed payments and Open Banking. We have delivered API and Open Banking solutions for a number of clients across Europe including one of the largest Spanish banks, a large Danish bank, a large Asian bank and a number of UK banks.