We have developed a range of tools that enable you to engage in Open Banking according to your desired level of involvement. Whether you seek basic compliance or aspire to leverage the full potential of Open Banking’s interoperability to foster innovation, we have the solutions you need. Our gateway-agnostic module can seamlessly integrate into your existing infrastructure, enabling you to deliver ASPSP services and grant access to your Open Banking API endpoints. By incorporating this module, you can effectively engage with TPPs who onboard to utilize your Open Banking Services. It encompasses all Open Banking Services, including AIS, PIS, and CBPII.
TECHIP BankTECH is a Technology independent flexible solution that can run on top of different Enterprise API Gateway providers like IBM and Redhat, utilizing IBM API Connect or Redhat 3Scale.
The solution is designed to be an infrastructure hassle-free solution to run on-prim or on-cloud. Also, BankTECH was built as a cloud-native containerized solution.
TECHIP Open Banking solution for banks BankTECH is designed on top of Enterprise platforms so its architecture serves as the blueprint for designing and implementing Open Banking APIs. This architecture facilitates secure and standardized data sharing between banks and authorized third-party providers (TPPs). It enables seamless integration, data exchange, and collaboration while ensuring compliance with regulatory requirements.
We have designed the Open Banking solution architecture to comprise several essential components. At its core is the Application Programming Interface (API) infrastructure, which enables secure communication and data exchange between banks and TPPs.
APIs provide standardized access to a wide range of banking services, including Account Information Services (AIS), Payment Initiation Services (PIS), and Confirmation of Payee (CoP).
- Identity and Access Management (IAM) plays a crucial role in the architecture, ensuring secure authentication and authorization of users, both customers, and TPPs.
- Security and Privacy are of paramount importance in the Open Banking solution architecture. Robust encryption, data protection measures, and consent management frameworks are implemented to safeguard customer data and ensure compliance with privacy regulations.
- API Gateway: This Component accepts API requests from a client, processes them based on defined policies, directs them to the appropriate services, and combines the responses for a simplified user experience.
- Internal Micro Services: This component is responsible for all the internal system data exchange with the API Gateway, It includes the different message routing and transformation from the different protocols and data types to the acceptable format and protocol.
- API portals are bridges between API providers and API consumers that provide information about the API at every stage of an API’s lifecycle. API portals allow providers to expose and publicize their APIs, educate developer communities about them, provision user access, generate client keys, and more.
Open Banking Hosting
If you are a Bank seeking to offer Open Banking services without the need to develop or purchase the necessary technology and prefer to have it hosted on cloud infrastructure, TECHIP can host the ASPSP module for you, with the essential integration framework for delivering all Open Banking services, including AIS, PIS, CBPII, and CoP, to connecting TPPs.
In addition to the framework technology, we offer:
- Comprehensive consultancy services for initial implementation and ongoing support
- Full-service support following the implementation of the technology
- Regular upgrades to align with changes in the Open Banking Scheme.”
Get to know more details about the Integration framework.