Open Banking. Open Source Solutions
Open banking allows for financial data to be shared between banks and third-party service providers through the use of application programming interfaces (APIs). Traditionally, banks have kept customer financial data within their own closed systems. Open banking allows customers to share their financial information securely and electronically with other banks or other authorized financial organizations such as payment providers, lenders and insurance companies.
Open banking enables third-party developers to create services and applications for financial institutions, expands the possibilities of financial transparency for account holders of banking institutions, allows for the exchange of data about the client with his consent and the creation of personal offers for him.
Provided here Open source tools, adapters and connectors for accessing to Open Banking APIs.
Connection to banks that implement the European PSD2 directive, or through one of the market initiatives: The Berlin Group NextGenPSD2 and The Open Banking UK.
Also see:
1) National Bank of Moldova invites for Consulting on payment services based on EU Directive PSD2.
2) National Bank of Moldova discussed the necessary regulations for transition to “Open Banking”.
Recommendations.
If any of the solutions interests you, or you think that it has a good perspective for development, or you can adapt the software to the needs of citizens, authorities, businesses or NGO-s in Moldova, then you can:
- submit suggested improvements as Pull Requests (GitHub), or
- publish the modification as your own Fork (Github) for users with similar preferences.
