The emergence of a truly open banking ecosystem is set to dramatically transform how banks and their customers engage and operate. The ability, and obligation, to provide payment initiation services and share account data with authorised third-parties represents a significant inflection point in the digital transformation of financial services. The high velocity of technological innovation and the shift to mobile-first engagement provides dynamic new opportunities for financial institutions to enrich their services and products.
API Fragmentation The lack of a clearly defined single API standard threatens to obstruct the very core objective of Open Banking to create a unified, innovative, pan-European digital ecosystem for financial products. The Pelican Open Banking Hub addresses these challenges, with an API Interoperability solution that provides full seamless interoperability between all accepted formats, enabling Third-Party Providers (TPPs) to access PSD2 Payment Initiation and Account Information services, and to seamlessly connect to financial institutions implementing any of the popular Open Banking APIs, regardless of whether they are native TPPs, or banks wishing to operate as TPPs in an Open Banking environment.
The Pelican OpenBanking Hub enables all TPPs –including Banks wishing to provide TPP services – to offer both AIS and PIS services without the need to support multiple APIs. Organisations are able to publish different APIs across business lines or locations, whilst only supporting one API of their own. In addition, it includes a fraud detection and transaction risk analysis layer for open banking flows - delivering industry-leading levels of security.
Pelican’s interoperability capabilities are also attractive to banks wishing to internally standardise on one single API, but with a need to offer multiple API standards to reach a wider pan-European marketplace, or for banks that have already published a specific API and wish to support various other API standards across different business lines or in different jurisdictions.
Europe-wide Payment Initiation and Account Information services without the need to support multiple APIs.
Pelican provides seamless and risk-free interoperability between all accepted formats, acting as a conversion ‘switch’ that harmonises the differences between various APIs.
Support for the six popular Open Banking API standards, now including the UK’s OBWG, France's STET and the Berlin Group, together with the Czech ČSOB, and the Polish and Slovakian APIs.
Allows TPPs and banks to focus on delivering their core proposition to customers, while Pelican takes the pain out of connecting to multiple API standards.
Fintech and TPP Solutions
PelicanPay is a regulated and innovative payments and financial crime compliance platform for fintechs and Third Party Providers (TPPs), providing easy onboarding and a streamlined global payments process.
PelicanPay provides PSD2 Payment Initiation and Account Information services, accessible to all organisations seeking a truly pan-European and interoperable payment gateway solution. PelicanPay is headquartered in London and is part of the Pelican group.
Leverage the PelicanPay Platform to provide innovative products and services to your customers.
Enable all your European customers to make payments from their banks accounts or retrieve account information, using your apps.
Handles interoperable API connectivity for you, supporting multiple pan-European standards and formats.
Lower your operating and support costs and increase efficiencies, by outsourcing the management of API standards to PelicanPay.
Article: The Limits of API Aggregation—how ‘interoperability’ can solve the fragmentation challenge. Learn More
Press Release: Pelican expands pan-European Open Banking API interoperability. Learn More
Press Release: Pelican Group launches PelicanPay – an interoperable pan-European API hub. Learn More
Pelican provides banks and corporates with solutions that enhance, streamline and secure the payments life-cycle. With over twenty years
of expertise in the practical application of Artificial Intelligence technology to payments and compliance, Pelican partners with its customers to deliver innovative and agile solutions and drive growth.