Open Banking for Financial Services Innovation

Reference

Responsiv and IBM Co-Design an Open Banking Solution in the Cloud

Described as a new revolution in banking, Open Banking aims to give customers greater visibility and control over their finances. Traditional banks must allow other banks and third parties access to customers’ personal and financial data in a secure way, through the use of open application programming interfaces (APIs).

A leading global bank with a large share of customers in Japan and a significant presence worldwide engaged Responsiv Solutions to build and host an Open Banking gateway to comply with its obligations under the European Union’s (EU’s) Payment Services Directive 2 (PSD2) regulation. The gateway delivers a set of banking interfaces aligned to the UK Open Banking standards in a secure and resilient manner. It was designed and developed quickly and efficiently by Responsiv to meet all regulatory deadlines and functional demands.