News

Ozone API Announces Partnership with StormPay an Embedded Finance Platform

The collaboration will deliver an enhanced customer experience for StormPay’s customers and more control over their data.

Today, we are delighted to announce our partnership with StormPay, a London-based fintech company that provides embedded financial services for both business and personal customers. The collaboration will deliver a truly embedded and digital experience to StormPay’s customers.

Open banking leverages the power of Application Programming Interfaces (APIs), computer programming rules that give service providers like banks and fintechs the ability to connect to third-party service providers more easily and vice-versa. With these seamless and secure communication lines in place, consumers can share their personal and financial data more easily and securely with companies whose services they utilize. 

In offering embedded  financial solutions to its customers, StormPay turned to Ozone, given its reputation as a leader and pioneer in open banking standards. For fintech firms trying to implement open banking standards on their own, the process can be time-consuming, complicated, and expensive. Leveraging its deep industry expertise, Ozone streamlines the API implementation process, giving its partners standards-based APIs for open banking that help them open up streams of revenue and better serve their customers. 

Otabek Nuritdinov, CEO of StormPay, said “We are excited to partner with Ozone to implement open banking services that give our customers more seamless payment experiences. StormPay’s open-banking solution is a win-win both for us  and our customers, by making the transaction processes more open and transparent and increasing the data security level we significantly improve the customer experience. We look forward to a long and productive partnership with Ozone as we aim to storm the fintech sector and lead the way in delivering innovative financial solutions.”

Huw Davies, Co-founder and Chief Commercial Officer of Ozone continued “We’re thrilled to be partnering with StormPay. It’s exciting to be working with such an innovator and we look forward to helping them and their customers bring to life exciting propositions based on a solid foundation of really high performing standards compliant open APIs.”

Founded in 2017, Ozone is a leader in open API software, with a mission to accelerate the global adoption of open banking and provide key industry players with the technology to build a thriving ecosystem. 

Ozone’s founding team has been involved in the setup and implementation of UK open banking from the outset, having developed the standards for the UK Open Banking Implementation Entity (OBIE) and supplied their official sandbox, as the model example of how to build to this standard. 

Today Ozone’s software helps banks and financial institutions of all sizes across the world deliver high-quality, standards-based open APIs that handle the complexity of open banking and open finance.  

To learn more about StormPay, visit https://stormpay.io/.

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