Ozone API is a global fintech founded by the team that wrote the UK open banking standards. We believe that, done well, open banking has the power to change the world. We see the huge potential, but also the implementation difficulties banks face.
Ozone API is dedicated to enabling banks, FIs, regulators, and market infrastructure providers to make the most of the open banking opportunity through exposing standard compliant open APIs. Read about us here.
Ozone API provides the market-leading open banking platform, expert support, and strategic services that help:
- Banks and financial institutions to comply with regulations and create new revenue streams through providing the technology to deliver high-performance, standards-based APIs.
- Central banks and regulators to build secure, innovative open banking ecosystems that promote financial inclusion and economic growth.
- Partners and fintechs to deliver open banking capabilities by embedding Ozone API’s platform into their own solutions.
Ozone API supports clients around the world develop, deliver, and embed open banking and open finance, and has three distinct client types:
Ozone API is a global company that powers open banking for banks, central banks, and partners in multiple countries. Our head-office is located in the UK and we have 8 hubs deployed in key regions around the world. See more here.
Ozone API technology stays up to date with all ongoing updates every time a new version of any standard is published, including all major open banking and open finance standards around the world.
At Ozone API security is our top priority. It has been embedded into our culture, our development process, and our technology from day one. See more here.
Ozone API was founded by the creators of the UK open banking standard and our global team brings unrivalled experience combining technical, delivery, and standards expertise from around the world.
As open banking expands globally, regulations grow more complex – we simplify them for our clients. Ozone API ensures high-performance, compliant APIs with built-in consent management and a seamless developer experience. Efficient, easy, and cost-effective.
We have proven experience of delivering whole of market open banking and open finance hubs, from the market-leading tech, through development of foundations and frameworks, through to supporting central entities in the ongoing management of ecosystems.
You can contact us by completing the form on our website.
Ozone API has a blog which hosts articles on industry insights, news and company culture, you can find the Ozone API blog here.
Ozone API believes in simple and transparent pricing with no unexpected costs or hidden fees. Have additional requirements? Our solution can be flexible, get in touch to discuss how we can help you achieve your objectives.
Getting started with Ozone API is easy, just fill in the contact us form, and one of our experts will be in touch to advise how we can help.
Yes, we have worked incredibly hard to make the implementation process as simple as possible. In fact, we’re really proud of the integration tools we have developed and the experience they deliver. Whether you are a bank needing structured support and integration tools, a partner that wants additional resources to help your customers, or central entities requiring whole of market integration support, we have a solution to help.
Integrating with Ozone API is designed to be simple and take between 8-10 weeks. However we understand that your business may have a longer delivery timeline and so we are happy to work at a pace that suits you.
The Ozone API Platform is at the heart of what we do. It provides everything a bank or financial institution needs to expose standards-compliant open banking and open finance APIs. In addition, our platform also provides the open APIs needed to comply with Verification Of Payee and Confirmation of Payee. Whether you need open banking to be delivered as a SaaS model, in your own infrastructure or delivered as a central market hub, the Ozone API Platform can provide a solution. In addition to our market-leading technology, we also provide a range of services to support the development, delivery and running of entire open finance ecosystems for central banks and regulators. Find out more.
The Ozone API Platform contains everything a bank or financial institution needs, now and as standards evolve. As standard our platform includes the following components, providing you with out-of-the box functionality that is ready to go:
- Consent management
- Developer Portal
- Standard-compliant APIs
- Reporting and billing functionality
- Third party management
- Simple integration
Learn more about our market-leading platform here.
The Ozone API Platform includes an Admin Portal that provides banks and financial institutions with reporting and billing functionality. Ozone API provides comprehensive reporting that banks can use to meet relevant regulatory and commercial requirements, as well as additional bespoke reports that can be customised to a client’s specific needs.
Yes, Ozone API delivers Verification Of Payee compliance for our clients. Our open API Platform provides everything banks and financial institutions need to ensure they meet the Verification Of Payee requirements within SEPA. Find out more.
Yes. Our open API platform can incorporate your branding to maintain user familiarity and trust.
At Ozone API security is a foundational principle. It has been embedded into our culture, development process, and our platform from day one. We meet the highest security standards including FAPI (1.0/2.0), CIBA, ISO27001:2022, SOC2 Type 2, and IASME.
Ozone API provides comprehensive support throughout your integration journey.
- Our platform is designed to enable a simple integration as all of the complexity is handled within the Ozone API platform
- We provide comprehensive support throughout the implementation, delivered by our Project and Delivery Managers who work with you every step of the way
- We can also provide specialist support to help complement your in house team
Whilst the platform has been designed to enable a simple integration, and includes standards maintenance and issue support on an ongoing basis, we have a range of additional support packages to provide enhanced expert support if required.
Additional Support Options
- Systems integration for banks and financial institutions using the Ozone API Platform and Ozone API Hub
- Technical training
- Conformance testing and certification service (via OIDF and other relevant certification bodies)
- 24/7 service desk for partners and clients
- 24/7 support for TPPs
- Support to apply for regulatory exemption from contingency mechanism
Ozone API constantly monitors the open banking landscape and updates the Ozone API Platform with new versions of standards as soon as they are available. This ensures our clients remain up to date, and compliant with standards now and as they evolve through a single integration.
Yes, you can find examples of how Ozone API has helped clients on the Success Stories page.
Ozone API has flexible partnership options to suit different needs. Our partners can choose to be an Ozone API Referrer, an Ozone API Reseller, or an Ozone API Premium Reseller. Find out more on our Partners webpage, or contact our partnership team who would be happy to discuss the options with you.
To partner with us, please complete the form on our Partners page and our partnerships team will contact you shortly.
Yes, we help banks and financial institutions deliver high-performing, standards-compliant open APIs to meet regulatory requirements and unlock new revenue streams.
Yes, we help central banks and regulators by providing the expertise and technology to build a thriving open banking ecosystem that facilitates the secure exchange of data and drives innovation, economic growth and financial inclusion.
Yes, we enable the technical service providers by integrating our leading global open API platform into your solution, helping you to be the open banking enabler for your customers.
The Platform includes an Oauth2 & OpenID Connect Authorization Server that is fully compliant with RFC 8705. Additionally the Authorization Server is fully compliant with the relevant profile, certified to OpenID Foundation’s FAPI and CIBA profiles, and supports PAR, RAR, as well as JARM, PKCE, and FAPI 2.0 profile.
Ozone API is cloud agnostic and can host in any cloud environment. e.g. AWS, OCI, Azure, Google Cloud etc. However, if required we can deliver our solution under a customised on-premise model (software only).
Ozone API has a comprehensive Developer Portal that contains everything you need to get started. The Developer Portal can also connect you with our Sandbox so you can test our solution before integrating with your live environment.
Ozone API can integrate with any banking technology stack, in any environment, or via your existing middleware.
Open banking is the plumbing that connects financial services. Instead of building custom integrations for every bank, standardised open APIs can be used to access financial data and services with the data owner’s (consumer’s) consent.
Open banking creates a regulated ecosystem where innovation can flourish while maintaining security and consumer protection. It’s the foundation for a more competitive, innovative financial services market.
Instead of consumers logging into multiple banking apps separately, they can safely share their financial data with trusted third-party services through secure, standardised APIs.
Banks can use open banking to connect with other financial institutions and businesses, providing new and enhanced products and services for their customers whilst maintaining full control and security.
Successful open banking ecosystems are based on standards that let banks, fintechs, and other financial services share data securely with customer permission.
From a technical perspective, open banking provides standardised REST APIs that eliminate the need for screen scraping or custom bank integrations.
You can see the latest open banking, open finance and open data standards around the globe on our Global Open Data Tracker.
APIs (or Application Programming Interfaces) serve as bridges between software systems, enabling them to exchange information and functionality seamlessly. They define the methods and data formats for communication, facilitating integration without requiring developers to understand internal workings. By adhering to specific rules and protocols, APIs empower developers to access features or data from other applications or services, fostering interoperability and innovation in the digital realm.
Not really. Whilst open banking and open finance are within the same area, they refer to slightly different possibilities. Open banking is typically restricted to sharing financial information from bank accounts and making payments. Open finance is the bigger picture – it includes everything financial in a consumer’s life.
Open banking covers:
- Bank accounts (checking, savings)
- Payment history
- Transaction data
Open finance covers everything above PLUS:
- Insurance policies
- Investment accounts
- Pension funds
- Mortgages
- Credit cards
- Loans
Put simply:
Open banking = Looking at a consumer’s wallet
Open finance = Looking at a consumer’s entire financial life
Yes, open banking ensures the secure sharing and consumption of data, it can drive revenue growth for financial institutions and enable inclusion for those underserved by traditional financial products. Whether you are a bank, third party provider, or a consumer, there are multiple benefits available.
Banks and financial institutions
- Improve core offerings
- Increase customer loyalty
- Create new revenue streams
- Accelerate innovation to embed financial experiences in multiple ways
- Offer increased protection against fraud
- Reduce operational costs
Third Party Providers
- Generate revenue through new products and services
- Frictionless access to open banking APIs
- Reduce the cost of partnerships and enable faster onboarding
- A more robust, reliable and secure API based technical environment to connect to banks and financial institutions
Consumers and Businesses
- Smooth and consistent user journeys for exceptional experiences
- Increased financial inclusion and access to relevant products
- Brand new ways to manage their financial health
- Reduced friction for payment and credit journeys
- Unlock truly embedded financial experiences
Open banking works by sharing information, or making payments, through secure digital connections between third party providers (such as a wealth management app) and banks or other financial institutions. Information is only shared, and payments made with the explicit consent of the consumer.
Here’s the process:
- The consumer chooses to connect an app (like a budgeting tool) to their bank account
- They provide permission by logging into their bank and saying “yes, this app can see my data”
- Their bank shares only the specific information that has been agreed to share
- The app uses this information to provide the consumer with services (like tracking spending)
- Consent can be revoked at any time, and the connections, or data sharing will cease
Open banking will never ask for a consumer’s password or bank log in credentials, ensuring that the process is secure, and can be trusted by consumers.
Open banking uses secure APIs to share information and send payments. Open banking is safer than many current methods people use to share financial information.
Why it’s secure:
- The consumer is in control: they decide what to share and with whom
- No password sharing: Apps don’t get personal banking passwords
- Bank-level security: Uses the same security standards as financial institutions do
- Consent can be revoked at any time: allows consumers to manage who has access to their information, and for how long
- Regulated: In many countries open banking is regulated and must adhere to agreed standards
It’s safer than:
- Sharing bank log in credentials with third parties
- Manually entering financial data into multiple apps
- Using unregulated financial services
