Open banking
The future of banking is open. Accelerate modernization and explore new revenue streams with API-driven innovation, without disrupting your operations. Deliver differentiated and innovative customer experiences to stay ahead of competition while seamlessly complying with regulations through a single integration.
Ready to become a leader in open banking?
One of the biggest challenges financial institutions face while pursuing open banking is developing new revenue streams in spite of the burden of regulatory compliance. Many initially viewed open banking as a cost burden, but with the right strategy, it can unlock new business models like Banking-as-a-Service (BaaS), premium API offerings, and embedded finance partnerships. To remain competitive, banks must go beyond compliance and develop value-added services that leverage data insights, embedded payments, and personalized financial products.
12.09 mn
active users of open banking in the UK
73%
YoY increase in open-banking-enabled payments in the UK in 2024
580 bn
expected open banking API calls globally by 2027
Unlock open banking’s true potential
Turn compliance into opportunity with seamless, end-to-end open banking solutions. Effortlessly integrate with fintechs and third-party providers (TPPs) using industry-standard APIs for AIS, PIS, and beyond.
Unlock new revenue streams
Go beyond compliance and monetize open banking. Offer premium APIs and provide streamlined digital payment solutions to both consumers and businesses.
Expand your fintech ecosystem with cutting-edge technology
Leverage our industry-standard APIs and fintech integrations to effortlessly connect third-party providers and partners.
Stay ahead of regulatory changes
Stay compliant with evolving regulations such as PSD2, PSD3, and Open Banking UK while minimizing operational complexity.
Unlock more opportunities with open banking today
Monetize premium APIs and enable embedded finance while delivering a frictionless customer experience. Effortlessly integrate with fintechs and third-party providers using industry-standard APIs for AIS, PIS, and beyond.
Give your customers full control
Offer a robust consent journey
Our solution enables your customers to grant, review, and revoke access to their data at any time, ensuring a secure and user-friendly experience. Your bank’s customers will retain full control of their financial data through frictionless and transparent consent management.
Make the most of open banking in no time
Harness an end-to-end compliance solution
Fully integrated into the Engagement Banking Platform, our solution gives you the flexibility to connect to more third-party providers while ensuring fully-managed compliance.
Enable better financial wellness and decision-making
Real-time data fetching with TTPs
Give your customer their most up-to-date financial information, enabling better decision making. Through secure APIs, you can effortlessly aggregate account data, execute transactions, and deliver timely insights without lag.
Maximize the power of the Backbase banking platform with seamless, out-of-the-box integrations to leading fintechs
Implemented through Backbase Grand Central
Meet the only fully managed IPaaS designed specifically for banking.
Grand Central brings together a comprehensive suite of tools for integration, APIs, and automation so you can simplify banking processes and accelerate IT project delivery. Leverage out-of-the-box connectors to leading core banking systems, payment systems, fintechs, CRMs, and more. Develop high-quality, secure APIs faster than ever with a user-friendly platform any developer can use.
