Ozone API has entered into a strategic partnership with Plumery to support the development of digital banking through Open Banking integration.
As part of this collaboration, Ozone API is set to combine its Open Banking platform with Plumery’s Digital Success Fabric to support financial institutions in providing simplified, compliant, and advanced digital banking experiences for their users.
Customer-centric experiences with Open Banking
The alliance merges Ozone API’s standards-based open API technology, developed to support all global Open Banking standards and regulations, with Plumery’s cloud-native digital banking experience platform. With this integration, banks and financial institutions are set to be able to deploy customer-centric mobile and web applications that include Open Banking features without negatively affecting compliance and security.
Furthermore, with this joint solution, the two companies aim to address financial institutions’ scaling demand for integrated digital banking platforms that can utilise Open Banking capabilities to improve customer engagement and benefit from additional revenue streams. Banks can leverage Plumery’s flexible, developer-friendly platform to deploy customised digital experiences while also embedding Ozone API’s Open Banking capability. Commenting on the move, representatives from Plumery emphasised that this partnership supports their company’s commitment to equipping financial institutions with digital banking experiences that focus on the customer. In addition to meeting regulatory requirements, users will be able to leverage Open Banking as a competitive advantage. Through optimal architecture, clients can provide personalised services that utilise Open Banking data while maintaining the flexibility and speed-to-market of Plumery’s platform.
Latest news from Ozone API
A few months before this announcement, Ozone API and Plaid teamed up to expand Open Banking integration. The agreement saw Ozone API joining Plaid’s FDX-enabled Gateway Partner Programme. The partnership enabled banks and other financial entities to integrate Ozone API’s FDX-compliant platform directly with Plaid’s infrastructure. This setup enabled institutions to connect customers to thousands of applications across Plaid’s network, which included over 12,000 financial institutions and 8,00 fintech providers.
