More and more customers prioritise quick and easy access to their finances. Whether it’s payments or money management, users want solutions that save them the effort of doing complex tasks. By incorporating open banking software your product can meet those user expectations… and exceed them. Below we compiled a list of open banking solution providers you might want to consider for this.
How open banking software can benefit your solution
In FinTech, customers wait for no one. With so many apps on the market, your product has to combine innovation and a high-quality customer experience to attract loyal users. Open banking solutions can help you with that. With FinTech APIs, the data gathered by financial institutions can fulfill its potential and lead companies to enhance their offerings.
Extensive customer insights or better functionalities can make a world of difference in how your product is received. Banking software development needs to take open banking solutions into account if challengers truly intend to make waves in the market.
The appeal of open banking solutions doesn’t lie solely in evolving your product. These solutions also drive the accuracy of the data your product uses. For example, personal finance apps can make better-calibrated predictions and provide users with precise advice.
It’s not just money management software, though. This technology can be applied to a wide variety of products. Open banking apps can initiate payments, aggregate data or track cash flow, and that’s just a tiny sample of how open banking software can be used. Whatever your FinTech product is, it makes sense to look into how open finance trends can benefit it.
Open banking solutions for customer-centric products
Perhaps the most important advantage of open banking software is its focus on the customer. When applied with care, these solutions improve user experience. They can streamline onboarding or payment processes that would previously drive potential customers away. After all, people use FinTech apps to save time and simplify their financial lives.
You can further drive efficiency in your product with various integrations. This is where API development services can come in handy. Plugging into the wider software network requires some thought and experience, but the results are worth it.
Making finances more accessible is another driving force behind open banking software. Customers don’t have to switch between a myriad of apps and interfaces. Everything they need they can find in one place—your product.
The list of open banking solution providers
When choosing the right provider for your product, think of your business goals and the needs of the user base. At the same time, keep in mind that if nothing in the market quite meets your requirements, open banking development services might be the answer. With the help of an experienced team, you can have a solution perfectly aligned with your objectives.
Apigee Open Banking APIx
Mountain View, United States
The Open Banking APIx solution simplifies and accelerates the process of delivering open banking as required by PSD2 by enabling speedy and secure delivery of PSD2-compliant APIs.
The Bank Account Starter API provides the ability to open a new 360 Savings Account, 360 Money Market Account, or 360 Certificate of Deposit (CD). Customers can apply for an individual account or a joint account (up to two applicants). And you have full control over how the application is presented.
Catalyst Accelerator for Banking is a set of API designs and supporting reference implementations, that accelerate the path towards digital transformation. Drawing on its work with 5 of the top 10 global banks, MuleSoft’s Catalyst Accelerator for Banking provides a microservices foundation for implementing key Open Banking and PSD2 use cases.
The Credit Offers API is available to Capital One Affiliates and allows you to match your customers to credit offers that not only meet their needs but are also more likely to result in an approved application. Within 60 seconds of submitting a few pieces of identifying information through our secure channel, you will receive a list of personalized credit card offers to show your customer.
Finicity’s open banking platform makes connecting your customers’ financial data to your app or service simple. Finicity’s open banking platform is being used by some of the largest and most innovative organizations in the world to empower their customers with better financial experiences.
Data quality is essential to your experience. Our data is battle tested in the most rigorous markets. Easily code to endpoints, test data and connect to Finicity’s open banking platform for leading API coverage of banks, credit unions, payroll providers and other financial services. Our suite of APIs makes it easy to access the data you need to power your products.
Intuit is a global technology platform that helps our customers and communities overcome their most important financial challenges. Serving millions of customers worldwide with TurboTax, QuickBooks, Credit Karma and Mint, we believe that everyone should have the opportunity to prosper and we work tirelessly to find new, innovative ways to deliver on this belief.
Loansifter operates the mortgage industry’s digital marketplace which connects lenders, investors and providers with comprehensive secondary marketing solutions, market leading capabilities and value-added services that deliver results.
MX is the leading data platform for banks, credit unions and fintechs, enabling its clients and partners to easily collect, enhance, analyze, present and act on financial data. Using MX platform and products, MX clients are able to understand their customers in real-time like never before, allowing them to be truly customer-centric, empowering them to grow faster and deliver an exceptional customer experience all while reducing costs.
Founded in 2010, MX is one of the fastest-growing fintech providers, partnering with more than 2,000 financial institutions and 43 of the top 50 digital banking providers. For more information, visit www.mx.com
Expand your insight with the Open:FactSet Marketplace, the destination for best-in-class data and solutions that give investment professionals an edge.
From ESG to Satellite and everything in between, the Open:FactSet Marketplace is your home for data that gives you an edge.
Plaid is a platform with a suite of products that enables developers to build financial applications which can interact with bank accounts, execute payments, and manage risk. It allows a user to easily authenticate and link their bank account to any application and utilize bank-like functionality out of that app. With Plaid, you will be able to develop applications that sync with users’ bank accounts to track and manage their budgets, and transfer funds.
Solarisbank is a Banking-as-a-Service platform with a full banking license that enables companies to offer their own financial products.
Through APIs, partners gain access to Solarisbank’s modular services including payments and e-money, lending, digital banking as well as services provided by integrated third-party providers. Through this, Solarisbank creates a highly developed technological banking ecosystem for fintechs and established digital companies, as well as banks and corporates.
Stripe offers solutions for web and mobile payments that are built for developers. Stripe provides a set of unified APIs and tools that instantly enable businesses to accept and manage online payments.
TrueLayer is a global open banking platform that makes it easy for anyone to build better financial experiences. Businesses of every size, from startups to large enterprises, use TrueLayer to power their payments, access financial insights, and onboard customers across 12 markets.
Array (Credit, credit scores, credit reports, identity data & much more!)
New York, United States
Array offers Credit Data (Credit Scores, Reports, Monitoring, Disputes, locks, consumer advice tools like score simulators, score factors, etc) as well as identity protection ($1m of insurance, full restoration services, SSN/dark web monitoring + change of address) , credit data for lead buying/selling and qualification (mortgage brokers etc) and more.
Our Credit, Identity Protection & Marketing/decisioning tools can be deployed via whitelabel, embedded tools and or via APIs
Everything we build is tailored to our clients brand (we are B2B2c) within their own user environment/experience. My engineering team takes the bulk of the lift for a seamless/easy integration.
Barchart OnDemand provides direct, extensive and reliable financial market data APIs. The convenient tools make it easy to integrate market data into applications, websites, charts and financial tools.
Barchart OnDemand can provide a fully custom or off-the-shelf solution with flexible APIs that can be tailored to include only the data that is necessary.
With direct connectivity to the exchanges, Barchart OnDemand is completely platform-independent so the data can be received in any operating system or programming language.
CenturionCARES offers contact center software solutions that caters to the needs of contact centers of any size. CARES cloud-based, on premise or hybrid solutions are used in a dynamic cross-section of industries, including banking, government services, health care, insurance, and utilities.
The CARES platform improves contact centers of all sizes by efficiently handling inbound calls. CARES also conducts effective outbound calling campaigns, and increase overall productivity with a practical reporting toolkit. CARES solutions promote a more streamlined workflow with the ability to tightly integrate with your existing (PBX) phone system, CRM, billing, OMS software.
CenturionCARES comes with a dynamic range of tools.
Automatic call distribution (ACD) capabilities enable you to direct inbound calls to the appropriate location, reducing customer hold times. Customers simply tell the menu system where they need to go with interactive voice response (IVR) technology, and it directs their calls accordingly. CARES predictive dialer eliminates manual dialing, speeding up the call. A powerful reporting toolkit uses more than 100 built-in reports to analyze system usage so that you can better measure and improve organizational performance. CARES also includes a practical collaboration toolkit, customer call-back feature, real time data, screen / voice recording and a screen pop feature that automatically brings up relevant customer information to expedite call times. CARES is scalable, allowing you to add features as your business grows.
Benefits of CARES
Numerous intuitive tools that increase the call volume of each agent, leading to enhanced agent efficiency and productivity. In addition, reduced call hold times, which presents an opportunity to convert more prospects into customers. CARES also use Intelligent AI which automatically scales automation during high call volume periods. CARES provides enhanced reporting functions, giving your contact center the power to optimize productivity by analyzing mounds of real-world usage data—revealing practical ways to reduce operating costs and improve efficiency across the board.
Another notable advantage, all solutions are designed and implemented by CenturionCARES. Because of this, CARES implementation is quick and allows your personnel to focus on other priorities – saving you a lot of time and money.
CARES allows your customers to seamlessly do business with you on their preferred channel and brings all your communications together on one robust platform.
CARES Flex is the leading work from anywhere solution. Agents can use any phone, anywhere. They can also use the full CARES Agent Desktop. Supervisors can also capture all real-time and historical data for every agent, regardless of location.
CARES support is unmatched and designed to always exceed expectations.
cmdty offers APIs for commodity data that are fast, flexible, and available OnDemand. APIs from cmdty include real-time, delayed, end-of-day, and historical APIs for exchange data, indexes, local grain bids or cash commodities. With cmdty APIs users can access various fundamentals, commodity statistics, and economic data. Users can request information by data series with historical information available through to inception for most series. cmdty APIs include:
-The getQuote API used to request price data, real-time, delayed or end-of-day. In addition to Last Price or Settlement, other fields such as Open, High, Low, Bid, Ask, 52-week high and low, and more are available.
-The getHistory API used to request historical time series for exchange data, indexes, local grain bids, or cash commodities. Historical data may be available as tick, minute bars or end-of-day depending on the underlying dataset.
-The getCmdtyStats API used to request information on various fundamentals, commodity statistics, and economic data. Users can request information by data series with historical information available through to inception for most series. cmdtyStats™ is the premier source of aggregated commodity statistics – all made available in one easy to use API.
-The getCmdtyStatsId API used to identify instrument identifiers that can be passed to getCmdtyStats in order to request data on the applicable series. Users can search for data series based on search parameters covering content, source, area, frequency, and more.
-The getCmdtyCalendar API which provides users with the latest updates of economic activity and commodity trading events. Release detail includes previous, revised, and actual values. Users can request calendar events for desired period, and filter the output via various methods – category, importance, event country, and event symbol. The calendard is updated 3 times a day.
-The Input Parameter Explorer which is a tool used to identify possible values that can be passed to getCmdtyStatsId – allowing users to interact with cmdtyStats quickly and efficiently.
-The getGrainInstruments API used to request symbol and metadata information regarding physical grain instruments across Barchart’s cash bids and grain indexes. Users can request information based on crop type / root symbol, geo-location, or areas that are codified by FIPS standards. Returned instruments and their corresponding symbols can be passed to getQuote or getHistory to retrieve the associated price data – as requested by the end user.
-The getGrainBids API provides cash bid data for 30 closest locations in relation to the requested zip code.
-The getCRBIndexes API provides historical price data for our CRB BLS Spot Commodity Indexes. The Spot Market Price Index measures price movements of 22 cash commodities whose markets are highly sensitive to changes in economic conditions.
Through a single API Codat provides real-time connectivity to the financial software used by small businesses globally.
We handle the heavy lifting of integrations, leaving clients free to focus on how customer data can improve their product or service.
We empower small businesses by ensuring their systems and services are interconnected, allowing them to harness their data to access bespoke products and freeing up their time to focus on growing their business.
Dwolla, Inc. is a fintech company helping innovative organizations digitally transform their payments. Dwolla’s robust platform and low-code API simplifies the complex process of integrating with the various payment networks. Since 2016, businesses have white-labeled Dwolla’s modern payment technology to program payments in real time, the same day or to a debit card. Today, the most innovative companies are programming their payments with Dwolla—or they should be.
Electra provides award-winning post-trade operations workflow solutions and data services for reconciliation, trade matching, settlement and fee billing to global institutional buy-side firms. Asset managers, hedge funds, fund administrators and outsourced service providers use Electra solutions across their middle and back offices to reduce and manage risk, improve operational efficiencies, accelerate fee billing and revenues, and enhance counterparty and investor experiences. Firms can quickly scale to business demands and gain value from Electra’s innovative, patented technology across the post-trade process.
Episode Six gives banks, fintechs and innovative brands the freedom to design and bring winning payment propositions to market with unmatched speed, and across any asset class. Today, we’re powering payments for one of the world’s largest retail banks and largest airlines, as well as a slew of innovative fintechs.
E6 is the awakening for a new era in payments technology offering Tritium, a value-unit agnostic platform. That’s a fancy way of saying we can transfer value of any kind—paper currency, crypto, reward points, gold, securities, or anything else you can imagine. Globally, we’re fueling the innovations of payments with the most flexible and extensible payments platform, while leading the industry in product configurability.
Extend is an innovative digital credit card distribution platform for banks, fintechs, businesses, and their customers, that redefines how credit cards are issued. A certified Visa and MasterCard partner, Extend seamlessly integrates with legacy bank issuing systems to enable modern virtual credit card features and distribution capabilities.
Extend offers both a virtual credit card distribution app (paywithextend.com) for business customers that want to instantly equip anyone with a secure mean of payments, and a suite of APIs for fintechs to leverage virtual credit cards to enhance their products, enable commerce at POS, and streamline payment operations.
RapidRatings® is transforming the way the world’s leading companies manage enterprise and financial risk. RapidRatings® provides the most sophisticated analysis of the financial health of public and private companies in the world. The company’s analytics system provides predictive insights into third-party partners, suppliers, vendors, customers and securities issuers. Every business conversation becomes more productive, transparent and efficient with the RapidRatings® Financial Health SystemTM.
Flinks is a data-driven technology partner that provides a gateway to the leading Canadian Financial Institutions – covering over 98% of all Canadian accounts.
Integrating Flinks to your Business processes, you get:
• Account Verification (institution, transit and account number)
• ID Verification (full name, civic address, email and phone number)
• Balance Verification (making sure payments clear the user’s account) • Account History Aggregation (up to 365 days of transaction)
• Monthly Security Reports
Access is a pre-built partner portal solution for financial institutions and lenders. Send invites to clients and view raw, historical, and predictive data in one clean interface. A demo can be set up in under one business hour and shows PreciseMatch™ transaction scoring in a streamlined interface. Access has a straightforward, easy-to-navigate UI that makes it easy for users to immediately add and view a business’ financial data in either historical, real-time, or predictive data points. It includes PreciseMatch™, an intelligent transaction validation technology, which cross-references banking data with accounting data to highlight risky or unclear transactions in a small business’ financial records in only seconds.
Precise is a single API that directly integrates with a growing number of small business software products. A sandbox can be set up in under one business hour. Offers critical financial data points and analysis, including raw, historical, and predictive information on business clients. Available in JSON format.
Precise offers more predictive data points than any other competitor. In addition, it includes the PreciseMatch™ intelligent transaction validation technology, which cross-references banking data with accounting data to highlight risky or unclear transactions in a small business’ financial records in only seconds.
Kurtosys provides an end-to-end digital experience platform (DXP) that enables firms to create, manage, publish and optimize all their financial data, documents, websites and content in a secure, compliant environment.
As a result, it is trusted by the world’s leading investment brands to mitigate their risks and reduce their costs while providing the agility to ensure they are first to market.
The Only Integration You Need
Our platform includes the Mortage Loan Connector, Consumer Loan Connector and Commercial Loan Connector. These integration solutions provide seamless connectivity between the financial inductry’s leading loan origination systems and core / servicing platforms. The Lending Suite uses predetermined business rules to customize the automation process, allowing more control and security.