Ozone API are a global Fintech company founded by the team that wrote the UK open banking standards. We saw the huge potential, but also the difficulties faced by banks in doing it well. So we created Ozone API.
We know the standards space better than anyone and continue to shape the development of standards around the world, and we’re driving the development of the open banking ecosystem.
The Ozone API enables banks and financial institutions to expose standards compliant open APIs with all of the tools for success.
Ozone API seeks to:
- Remove the complexity and cost of developing and maintaining APIs to continuously evolving open banking global standards.
- Enable rapid compliance with open banking regulations.
- Provide the tools to go beyond and deliver value adding and commercial APIs to grow revenues.
Ozone API is used by banks, financial institutions, regulators and market makers. Anyone who needs to implement open banking will benefit from working with Ozone API.
Ozone API are a global company. The Ozone API is powering open finance for banks and Financial Institutions all around the world, and we already have 8 hubs deployed in key regions. 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 are specialists in open banking. The founding team authored the UK open banking standards and helped lead the implementation of open banking in the UK. Having seen how costly and complex banks were finding it to build their own APIs in line with the standards, we founded Ozone. Our mission is to help banks and Financial instituions deliver high performing, standards compliant open APIs with the tools to handle all of the complexity of open banking. The Ozone API platform delivers:
- Low total cost of ownership – low cost to implement and maintain
- Market leading performance – leaderboard topping speed and availability
- The richest functionality – including support for the widest range of global standards
You can contact by email or by completing the form on our website.
You can find case studies on our website highlighing how our technology had been deployed and used by companies.
Ozone API has a blog which hosts articles on industry insights, news and company culture, you can find the Ozone API blog here.
We have created a simple licence fee model. Get in touch with us to discuss this further.
Yes, the Ozone API can be easily integrated to any banking technology stack.
To get started, please get in touch with us and one of our open banking experts will be in touch. You can do so by emailing us, or filling out the form on our website.
APIs 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.
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 it delivers. We will set you up in our partner zone where you can access all of the documentation and resources and we will provide structured support to help you with every step of the integration. We will set up your sandbox, staging and production environments in a matter of days and in parallel help you through each of the integration steps.
The estimated duration for a typical implementation is 8-10 weeks.
We offer the following support during implementation:
- Provide support and guidance during the integration process.
- Conduct Technical deep dive sessions and workshops to cover all integration aspects.
- Provide access to API specifications and support customers with Postman collections to ease the development process.
- Support customers during SIT and UAT tests.
Whilst the platform has been designed to enable a simple integration, we have a range of support packages to provide additional expert implementation support or to undertake integration activity on the customers behalf.
We offer the following ongoing support:
- Systems integration for banks and Financial Institutions using the Ozone API 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 customers.
- 24/7 support for TPPs.
- Support to apply for regulatory exemption from contingency mechanism.
Yes. Ozone API has customizeble interfaces that can suit our partners branding while keeping Powered by Ozone API support.
We work with partners around the globe and are always looking for new companies to partner with, you can find our more about partnering with us here.
To partner with us, please complete the form on our Partners page and our partnerships team will contact you shortly.
Yes, all future necessary regulatory requirements for your market are guaranteed as part of our Service.
The Ozone API platform supports all of the major global open banking standards and we support all versions of FAPI and the security standards that underpin open banking around the world. Ozone API is also certified in the following ISO27001:2022 and SOC2.
- FAPI, CIBA.
From certifications perspective, we hold:
- ISO 27001:2022 .
- IASME Cyber Essentials.
- SOC2 Type 2 certification.
Yes. Ozone API has a set of built in reports to support multiple levels of analytics.
The Platform includes an Oauth2 & OpenID Connect Authorization server that is fully compliant with RFC 8705. The Authorization server is fully compliant with the FAPI 1.0 Advanced 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 are cloud agnostic and can host in any cloud environment, e.g. AWS, OCI, Azure etc). However, if required we can deliver service under on-premise model (Software Only) which will be a customised delivery.
Yes. Ozone API has a set of built in reports to support multiple levels of analytics.
Open banking is about providing secure and real-time access to banking data to financial institutions and third parties through APIs based on user consent. Read our essential guide to Open Banking here.
You can see the latest open banking, open finance and open data standards around the globe on our Global Open Data Tracker.
Open finance is a broader concept that extends beyond open banking. While open banking primarily focuses on granting third-party access to bank account data and services through APIs, open finance encompasses a wider range of financial services and products. Open finance aims to create a more interconnected and accessible financial ecosystem by facilitating the exchange of data and services among various financial institutions, fintech companies, and other third-party providers. This includes not only banking data but also data related to investments, insurance, lending, payments, and more.
Open banking is a global phenomenon, being driven in many markets across the globe, either as a result of regulatory compulsion or market forces. It is giving customers more control of their data and accounts and in doing so it is laying a foundation for both disruption and significant opportunity in the banking industry and beyond. The banks and financial institutions that grab this opportunity will more effectively meet their customers needs and create platforms for faster, lower cost innovation, partnerships and growth.
