The Open Bank Project is the leading Open Source API and App store for banks.
Open Bank Project’s open source API technology and surrounding ecosystem of tools – together with a vibrant Fintech developer community - helps banks rapidly engage with the next generation innovators safely and securely.
Built on a secure, enterprise ready technology stack that supports secure Internet protocols such as OAuth, Banks can start using Open Bank Project in sandbox mode for innovation programs or proof of concepts (POCs) with startups and then quickly transition to a production configuration in which OBP interacts with the core banking systems of the bank.
Out of the box, Open Bank Project provides over 130 RESTful endpoints covering transaction history, payments, entitlements and metadata that developers can use to build the next generation banking applicaitons.
The Open Bank Project exposes transaction data in a simple and consistent structure by abstracting away the peculiarities of each banking system. This is achieved by “connectors” that interface between the OBP API and each core banking system. This enables application developers to write an app once, and use it for many banks.
The Open Bank Project API supports transparency services via multiple configurable views on transaction data so that 3rd party users such as auditors, accountants, shareholders and donors can have access to certain account data whilst still preserving privacy where required. The Open Bank Project also supports meta data enrichment: Comments, tags and images may be added to transactions by authorized users so creating a dialogue around the data.
Deploying the OBP API encourages a community of developers to grow around the bank and enable them to build innovative products and services for customers based on the “bank as a platform” principle. Services may be offered via an App Store and the best ideas can be cherry picked for use in branded interfaces. Customers can benefit from freer innovation cycles, greater choice and quality - and the bank, as the gatekeeper to the OBP API, may charge customers for this added value.
Open Bank Project is lead by TESOBE in Berlin, Germany.
TESOBE dual licences Open Bank Project source code under open source and commercial licences - and also runs API and innovation programs for banks.
Open Bank Project source code is available on Github