Open Banking

Open Banking is a framework through which customers have the possibility to share their banking information with Third Parties (TPP Third-Party Providers). This enables the development of new business models that expand the generation and delivery of value, surpassing vertically integrated value chains, with external ecosystems. Open Banking is characterised by a One-to-Many relationship, based on information and data shared between multiple actors, through the use of digital platforms and revenue/profit sharing mechanisms.

The arrival of open banking requires a paradigm shift by banks, which is integrated and increasingly incorporated into a TPP ecosystem with which to interoperate through APIs (Application Programming Interfaces), with the entry of new, non-traditional players.

The Cedacri Open Banking project was conceived with the implementation of a proprietary Gateway in the Cedacri infrastructure. The adoption of a Cedacri Gateway allows adhering banks to play a key and independent role in system developments (PSD2, Open Banking etc.).

In fact, the Cedacri solution also provides for the “Bank aggregator” function, allowing the Bank to play an “active role” that can facilitate the assumption of the role of TPP.

The Cedacri Gateway API platform allows Third Parties to access and exchange data with the information systems of more than 30 participating credit institutes. Qualified Third Parties can integrate their own payment order provisioning services (Payment Initiation) and access to payment accounts (Account Information), relying on a single platform that draws on the best technologies available in the market, developed according to the “Berlin Group” market standard.

The Open Banking API Portal is the entry point to the Open Banking world developed by Cedacri. This is where you can find the technical specifications of the API platform for the PSD2 Gateway and SANDBOX, an environment dedicated to Third Party developers, in which to test and experiment all PSD2 services offered by Cedacri.

To access the functions displayed by the platform, an eIDAS certificate that satisfies PSD2 requirements is required. Remember that the test environment (SANDBOX) is available inside the Open Banking API Portal, through which it is possible to test the PSD2 functions even without a qualified certificate.

For more information see the technical specifications in the “Help Center – Documentation” section of this site (click here).