Overview
Customer expectations for more convenient, faster and cheaper financial services fuel the rise of tens and
hundreds of new market players. Digital banking and mobile applications bring along innovative payment
practices and disrupting business relations. API banking brings opportunities for banks to provide new service and
enable fintech partnership for customized services and enhanced user experience for their customers and secure
additional income streams.
Tietoevry API Banking Platform provides a secure way to give fintechs - third party payment service providers,
non-banks, credit unions, agents, big retailers and other market players access bank products - accounts,
payments, deposits, loans, cards, and contribute with value added products to their customers.
Tietoevry proposes monetization module that enables new revenue streams for banks, allows offering commercial
APls products to the market and defining flexible billing plans for fintechs - including limits and fees per API calls or
business transactions.
The platform is built on modern cloud native microservice arhitecture allowing banks to extend and adopt platform
for banks’ specific business needs. Delivery options include public or private cloud, as well as on premises of the
bank.
Key Features
Based on global financial API standards
APIs are based on world’s popular specifications and standards. ISO 20022 data model, JSON, XML data format.
Customer Developer Portal
Works on behalf of Banks and provides fintechs with a single access point to published business APIs, including, API references, API documentation,interactive API console, Sandbox and Production APIs.
Sandbox
Enables fintech application testing before accessing production environment. Each fintech has access to a single set of dummy data which emulates the real behaviour of the banking system.
Consent Management
Ensures real-time exchange of unified end customer’s consents between the Bank and fintechs.
Certificate Management
Verifies if the issuer of the certificate is a registered Qualified Trust Service Provider (QTSP), if the certificate has not been revoked on the QTSP’s Certificate. Revocation List (CRL) or Online Certificate Status Protocol (OCSP) server, and if the certificate has not expired.
Fintech Management
Provides Banks with initial verification, onboarding, and communication with fintechs. Fintech Management grants complete freedom to manage view, update, delete or stop any of the registered Fintech.
API Monitoring
Monitoring Dashboard enables banks to view and analyse a wide range of real-time API data, like total API usage, API usage per registered fintech application, API call response time, response statistics summary, response statistics per registered fintech.
Integration Layer
Enables flexibility to integrate with core banking, payment and other internal banking systems.
API Management
Enables frictionless API development, publishing and management, incl. API documentation and version updates.
API products
Configuration of API products by built-in API management functionality. API product lifecycle management, including API call limits and usage fees
Key Benefits
Use cases of open APIs:
Marketplace
A one-stop-shop for customers to access a wide range of financial offerings, including loans, insurance, investments, and more, all within a single platform provided by the bank.
Embedded finance
Banks can offer their financial services to be integrated into a wide range of user journeys provided by fintech companies through APIs.
Banking as a Service
Enables non-bank entities to leverage existing banking infrastructures for core systems, regulatory compliance, and payment processing, without building proprietary banking platforms