Savangard Open Banking
– unlock the banks’ capabilities with open banking.
Savangard Open Banking is a flexible and secure platform fully compatible with PSD2 EU directive. Enables fast and cost-effective implementation of open banking. Savangard Open Banking integrates the current system and functionality with the new scope of services and opens new business opportunities for the bank.
PSD2 – a turning point for the financial sector
PSD2 is the European Commission’s directive, which requires financial institutions to implement APIs that will provide access to open customer data for TPP (Third Party Provider). The process requires to follow strict technical specifications for secure communication and authentication.
The main objectives of the regulation are standardisation, integration, improved protection of online payments, encouraging of innovation in payment services. The appropriate strategy of implementing PSD2 creates many opportunities to build a competitive advantage for the banks e.g.:
- introduction of new services to the portfolio (e.g. aggregated view of accounts)
- a better understanding of the client allowing for personalized offers
- the possibility of opening new channels and reaching a range of new clients.
The best approach to ensure full compliance with the PSD2 is to add a ready-made solution to the existing infrastructure and skillfully integrate with the existing environment. This allows you to maximise the benefits that the bank can get from the implementation of open banking while maintaining the key features of the systems.
Take your services to the next level
Savangard Open Banking benefits
Full integration with bank infrastructure
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