Overview
WSO2 Open Banking combines the technical capabilities of WSO2 API Manager, WSO2 Identity Server, WSO2 Stream Processor and WSO2 Enterprise Integrator with PSD2-specific feature customizations to quickly satisfy open banking requirements It provides;
API Managment
- Support for Open Banking UK, Berlin Group, and STET API specifications
- API Management Security with OAuth 2.0 and Mutual SSL
- API Publishing and Governance
- API Throttling and Rate Limiting
- API Monitoring and Monetization
Strong Customer Authentication (SCA)
- Multi-Factor Authentication e.g., SMS OTP, Email OTP, and Biometric
- Support for OIDC - Dynamic Linking and Hybrid Flow
- Adaptive Authentication
Consent Management
- Capabilities to Store , Validate and Revoke
- Consent management compliant with Open Banking UK, Berlin Group and STET API specifications
Integration
- Integration points to core banking systems
- Support for multiple protocol ((REST, SOAP, and WebSocket) and message formats (JSON and XML)
Third Party Provider Onboarding
- Automatic TPP onboarding
- Workflow-based TPP onboarding
Compliance with General Data Protection Regulation (GDPR)
- Enhancements to consent management, user profile management, forget me, and cooking handling features
Additional Components
- Risk Management
- Fraud Detection
- Transaction Risk Analysis
- Alerting
- Incident Reporting