Open Finance and API Management Software

In this section you find software tools, systems, and platforms to enable open banking, open finance, and effective API management in businesses.

Open banking and open finance are based on the possibility for customers to share their financial data with companies other than the bank that holds them, in order to access other services or products. The bank is therefore called upon to "open" its systems to other external entities, through APIs, Application Programming Interfaces.

APIs allow users to authorize third parties, such as fintech companies, startups, or other financial institutions, to access their financial information, enabling them to offer innovative and personalized services, such as aggregate account management, financial risk calculation, and investment recommendations.

API management systems must meet a number of requirements:

* Security: Users' financial information is extremely sensitive and must be adequately protected through security protocols, data encryption, etc.
* Interoperability: APIs should follow open and common standards to facilitate integration between platforms and systems.
* Compliance: Regulations in this area are constantly evolving.
* Updates: These solutions need to be constantly updated, both from a technical and regulatory point of view.