The number of Open Banking users in the UK surpassed five million in 2022. Open Banking application programming interfaces (APIs) have given
banks opportunities to form new relationships with their customers. Being able to leverage modern identity and access management (IAM) to enforce FAPI-compliant APIs is
critical to driving Open Banking compliance, adoption, and revenue.
At the same time, standing up test and production facilities for Open Banking APIs is expensive, time consuming, and dependent on specialist API developers. We know that implementers are now looking to build high value custom APIs to sit alongside the regulatory APIs. We know that there is a race to offer revenue making services via APIs. Such APIs can drive revenue by integration into the point of sale services of big tech websites and payment points.
The ForgeRock Secure API Gateway for Open Banking is an open-source solution that helps financial services organizations deliver both test and production Open Banking and custom APIs from one framework, enforced by the ForgeRock Identity Platform.
Building Open Banking and custom APIs can now be done in days, not months or years.
The Secure API Gateway (SAPI-G) for Open Banking is built on an established ForgeRock relationship with the UK Open Banking Implementation Entity (OBIE). The solution architecture is developed using extensible and configurable open source code that integrates with your deployment and CI/CD flows. It’s all enforced by the comprehensive capabilities of the ForgeRock Identity Platform that meet ASPSP API requirements.
