Open Banking has arrived
Turning obligation into opportunity
Welcome to Open Banking
The digital transformation of financial services
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.
Open banking initiatives go hand in hand with increased adoption of real-time payments, and the two combined will be a game-changer. The Pelican Open Banking API solution provides a comprehensive suite of dynamic API capabilities for ASPSPs and third party providers (TPPs) seeking to adhere to or participate in open banking initiatives such as the revised Payment Services Directive (PSD2) in Europe and the Open Banking Standard (OBS) in the UK.
Development & Deployment environment
PelicanPayments ensures full compliance with PSD2 and OBS regulatory mandates to facilitate access to customer account information and payment initiation services for authorised TPPs.
Going beyond open banking compliance, the broad PelicanPayments and compliance platform creates a highly functional API development and deployment environment for Banks to provide innovative solutions,
and indeed operate themselves
as Account Information Service Providers (AISPs) and Payment Initiation Service Providers (PISPs). Additionally, PelicanOpenBanking enables customers to manage, monetise and monitor the complete API offering to third parties.
Open Banking features
- Enables secure sharing of data over API with Third Party Providers (TPPs).
- API conversion and aggregation - removing the need to support multiple APIs.
- Tightly integrated with instant payments function – PelicanFast, providing seamless open and instant tool.
- AI and Data analytics powered solution enabling you to harness and monetise your data to offer new products and services.
Highly Functional API Platform
- Integrated API framework along with the flexibility to create new ones based on customer requirements.
- Handles requests to ASPSPs from AISPs/PISPs and provides responses, supporting high-volumes of API calls
with integrated security and authentication services.
- Sandbox environment
for testing and ongoing development of API services.
- Integrates quickly and easily with existing legacy systems -no need to rip and replace.
- Requests / responses follow ISO 20 022 standards.
- Corporate connectivity module to communicate with your Corporate clients, in real-time.
- Quick and efficient compliance with open banking regulation.
- Facilitates banks’ transition to providing TPP services.
- Enables rapid deployment of advanced customer products and services.
- Unique capabilities in interrogating big data, with understanding of context to provide highly relevant and tailored services.
- Increased revenue through harnessing data across all segments including retail, SME and Corporate.