The Apigee Open Banking API Accelerator (APIx) , a software solution designed to simplify and accelerate the development of secure, PSD2-compliant digital services, is now available on the Temenos MarketPlace. Built on the Apigee Edge API Management Platform, Apigee Open Banking APIx features pre-built application programming interfaces (APIs) for banking, an open banking developer portal, and additional tools to help empower financial institutions to securely share data and build an ecosystem of partners and customers.
David Andrzejek, Head of Financial Services at Apigee, said:
“With the convergence of FinTech start-ups, high consumer expectations and new open banking standards driven by PSD2, the time is now for the financial services industry to go digital. Apigee is excited to work with Temenos to help their banking customers from all over the globe accelerate their digital transformation with APIs. Our Open Banking API Accelerator simplifies and speeds up the development of open banking digital services, enabling financial institutions with the agility, innovation, and data interoperability they need to transform the banking experience,”
Aaron Phethean, MarketPlace Product Director, commented,
“Apigee is a clear leader in API management and the launch of the Apigee Open Banking API Accelerator in the Temenos MarketPlace has come at the perfect time for our customers. They know API management and support some of the world’s leading online businesses including The World Bank, Sage Payment Solutions, First Data and Nationwide Building Society, to name but a few. Temenos customers can now confidently fulfil the many API business opportunities and regulatory demands ahead.”
Apigee’s Open Banking APIx solution will provide digital teams, including mobile and Web developers, with access to capabilities including:
- A banking-specific developer portal with API documentation and tools;
- A collection of pre-configured API proxies for banking APIs such as Payment Transfer, Account Information, Transactions History, Sufficient Funds, and Financial Products APIs;
- Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) – specific workflows, as well as API product monetization;
- Pre-integrated OAuth security framework to support different access models for internal apps or third-party providers, such as PISPs, AISPs and FinTechs;
- Support for the XS2A rule in PSD2 through end-user authentication using the OpenID Connect standard to allow multiple authentication models, two-factor authentication, and consent capture and management.
By leveraging Apigee Edge, Apigee Open Banking APIx also gives operators the benefits of Apigee API management, including API security, API analytics, API monetization, and developer on-boarding capabilities.
Apigee Open Banking APIx solution APIs and developer portal are available online as a sandbox for banks and developers to try. Banks can also deploy their own version of the Open Banking APIx solution.