Leveraging the expertise gained through Open Banking, Open Vector was formed to provide a number of individual or packaged offerings to assist an industry or individual firms not only in the banking sector but to any sector that wishes to undertake an API strategy.
WHY OPEN VECTOR
We are the only company in the world that have the experience of establishing a live production Open API structure.
The staff at Open Vector are the same key people that were part of the OBIE achievement.
In house expertise lowering overall cost by avoiding third party hiring of SME’s
Simply put, we don’t claim to be able to do Open API, we have a proven track record of delivering Open API
Open Vector was established in 2017 with the purpose of leveraging the extensive knowledge achieved in the UK with the creation, implementation and go live of the first in country open banking strategy worldwide.
It is Open Vector’s remit to use this experience to become the “center of expertise for Open API”.
In 2016, the UK set off to establish an open banking strategy as mandated by the CMA order which dictated the rules as to which the top 9 banks, Fintechs and challenger banks would work under.
The Open Banking Implementation Entity was formed to establish data standards across the CMA9 and to design the relevant API’s to allow for an Open Banking structure which also satisfies elements of PSD2.
With an ongoing governance framework, data standards sign off was achieved across the CMA9 for the open data portion of the programme, and on March 13 Open Banking API’s went live in the United KIngdom making it the first in country open banking collaboration.
- API Gateways
- Technologies – RAML/Swagger
- Dev Ops
- Cloud Services
Industry Service Lines
- Savings / ISA’s
Data Standards & Regulatory Initiatives
- ISO 20022
- PSD2, MiFID II, SEPA
- Data Modelling