Ozone launches Open Finance Hub Tuesday 11 May 2021 11:21 CET | News
Open Banking standards-based software developer Ozone has launched a specialist platform to help financial institutions handle the growing complexity of Open Banking and Open Finance.
Ozone’s API software already helps financial institutions deliver open APIs that are fully compliant with the OpenID Foundation’s FAPI and CIBA profiles and offers full support for major global standards, including UK Open Banking, Berlin Group, and FDX, as well as a growing number of emerging Open Banking standards around the world, such as in Brazil, Mexico, Bahrain, and others.
The Ozone Open Finance Hub is a fully managed platform, based on the Ozone API software and hosted in the cloud, which provides the tools needed to manage Third Party Providers (TPPs) and handle consent, meeting security standards, offering better customer experience, and enabling the delivery of regulatory and commercial use cases. The Hub is
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Ozone introduces Open Finance Hub 11 May 2021
Source: Ozone Ozone, developer of the leading standards-based software for open banking, has launched a specialist platform to help financial institutions (FIs), challenger banks, neo banks and e-money institutions (EMIs) handle the growing complexity of open banking and open finance. Ozone’s API software already helps financial institutions deliver open APIs that are fully compliant with the OpenID Foundation’s FAPI and CIBA profiles and offers full support for major global standards, including UK Open Banking, Berlin Group and FDX, as well as a growing number of emerging open banking standards around the world, such as in Brazil, Mexico, Bahrain and many others.
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Middle East Fintech Firms to Operate Under New Guidelines from Abu Dhabi Global Market
The
Financial Services Regulatory Authority (FSRA) of
Abu Dhabi Global Market (ADGM) has provided an updated set of regulatory guidelines that are meant to serve as a framework to support the operations of Fintech companies. Many of these startups offer third-party services to clients of local financial institutions.
As reported by Fintech News Middle East,
Third Party Providers (TPPs) are described as companies that serve as intermediaries between clients and the financial institutions that offer services to them. These products are designed to help clients with effectively managing and using their own personal data when performing monetary transactions.