What is the Open Bank Project Platform?
The Open Bank Project (OBP) platform is a middleware solution that allows financial institutions to easily create, secure, distribute, and monetise APIs. It comes with a catalogue of over 550 pre-built APIs available for immediate use.
OBP middleware lives on-premise behind the bank’s firewall or in the cloud, and it connects to the bank’s back-end systems and third-parties to expose a rich set of modern and fintech-friendly APIs.
It comes with:
- 550+ ready to use APIs
- highly secure API Gateway;
- developer-friendly, self-service API portal;
- self-contained sandbox environment;
- out-of-the-box consent management;
- Strong Customer Authentication (SCA) workflows that satisfy PSD2 and similar regulations.
How it works
To deploy the OBP middleware, banks usually follows a 6-step process:
Commercial terms – the Open Bank Project is governed by a Software Licence Agreement issued by TESOBE which gives the financial institution the right to use and modify the Open Bank Project instance. The SLA includes liability insurance and access to support and maintenance. TESOBE also offers professional services such as technical integration and fintech community building services. Please reach out to us for pricing.
550+ APIs
Accounts
Access the user’s list of accounts and account information such as the balance
Branches, ATMs
Access the list of branches and ATMs for the specified bank including geolocation and opening hours.
Transactions
Access the transaction history and metadata of accounts
Metadata
Enrich transaction and counterparties with metadata including geolocations, comments, pictures and tags (e.g. category of spending).
Counterparties
Access the payers & payees of an account including metadata such as their aliases, labels, logos and home pages.
Webhooks
Enable customer meetings, messages and video conferencing for KYC and CRM operations (uses third party video streaming).
Onboarding and KYC
Perform user, customer and account creation. Access Know Your Customer (KYC) documents, media and KYC status.
API Roles, Metrics and Documentation
Enable account holders to grant fine-grained access to third-party users and applications, get API metrics and documentation.
Payments and transaction requests
Initiate transfers. View and confirm charges (as per PSD2).
Search Warehouse
Perform advanced searches and statistics queries on the data warehouse.
Dynamic Endpoints
Quickly create endpoints using Swagger / Open API specification files.
Unrivalled Open Banking experience
Successful track record including over 50 global banking customers in open finance initiatives, ranging from design to implementation. We have developed unique and unrivalled expertise in Open Finance, and OBP technology has been used by HSBC, BNP Paribas, Société Générale, RBS, Unicredit and a range of other leading banks.
Flexible architecture
We provide a ready-to-use stack of highly secure Open Finance APIs and connectivity to Core Banking Systems (CBS) which can be configured in real time. Based on 10 years of agile development, our software stack has evolved to allow complex integrations to be completed quickly. The OBP API is enterprise-grade and highly modular.
Thriving global developer community and third party partners
We’ve built a worldwide community of over 11,000 developers who use our APIs and who are keen to partner with banks. By using OBP solutions, the client can leverage a host of existing fintech Apps ranging from PFMs to chatbots.
Accelerator for legacy integration
Based on best-of-breed technologies, OBP offers a framework which speeds up integration with a variety of back-end banking systems and known core banking software, in particular SOAP and REST services.
Security & compliance
Harnessing years of development experience, OBP has developed a security model that ensures security does not negatively impact user and developer experience. On-site deployment together with a mix of industry-standard and continuous security analysis provides an unparalleled level of security for the platform.
Deployment in less than 6 months
Benefits include lower total cost of ownership and no vendor lock-in by leveraging open source code and existing technology.