Solution Capabilities

Questions?

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

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