The open API solution for banks with high standards
Solving the complexity of open banking and open finance
Open banking is a global phenomenon, with initiatives starting up on every continent. Whether motivated by regulation or commercial drivers, this is a strategic imperative for banks and financial institutions (account providers), who will need to adapt to and master the world of open APIs.
The Ozone API is a software application which supports open banking standards in major markets around the world and is ready to enhance any account provider’s existing technology, enabling immediate regulatory compliance and providing the tools for commercial growth.
Just like the ozone layer protects the earth, the Ozone API shields account providers from the complexities of open banking and open finance, opening the door to a world of opportunity.
Support for all major standards
Fully conformant to major open banking / open finance standards around the world, with future version updates guaranteed, enabling account providers to easily expose APIs which meet local regulations and market expectations.
Secure & seamless consent management
Fully integrated into each account provider’s existing web and mobile authentication applications, to marry a slick customer experience with enterprise grade security, including compliance with Strong Customer Authentication (SCA) regulations.
Built from the ground up using extremely lightweight and reliable code, which has a very small footprint and can be updated without downtime, delivering class leading levels of API performance and 100% availability.
Automated third party connectivity
Authorised Third Party Providers (TPPs) can connect automatically, via approved directories where relevant, significantly reducing the complexity, risk and cost of manual processes involved in the management of TPP connectivity.
Exceptional developer experience
Rich documentation, a fully transactional sandbox, sample code and an integrated test suite make it easy for TPPs to integrate their applications, reducing the account provider’s support overhead and providing a platform for innovation and growth.
Full control and reporting
Easy to use web tools to manage system parameters, sandbox data and reports, allowing full control over all aspects of the Ozone API, including real time reporting of availability and performance to meet regulatory and business requirements.
Enabling compliance, revenue and profit
The Ozone API guarantees initial and ongoing conformance to relevant standards around the world, which makes it easy for developers to connect their applications and helps account providers accelerate regulatory compliance.
It can be installed on almost any infrastructure (public cloud, private cloud or on premise) and, together with our global network of implementation partners, it offers a range of hosting and support options, all designed to keep the setup and ongoing run costs low, providing a platform for growth.
The Ozone API is the ideal solution for account providers to move quickly beyond compliance and convert their open APIs into a profitable commercial channel.
Monese explains why Open Banking is much more than just a compliance exercise and the huge potential it represents for their customers
As different regions are adopting their own open banking standards, delivering open APIs has gained extra layers of complexity. We believe open banking doesn’t have to be complex.
Ozone Open Finance Hub. Ozone in conversation with Tide.
Open banking should make the bank, not break the bank – A perspective on delivering PSD2 compliance for smaller banks and FIs.