Banfico and adorsys announce partnership

With more than 15 years’ experience supporting banks, insurance companies, and TPPs to embark on digital transformation projects, adorsys has built up a vast network of key industry players. Founded in 2017, Banfico has also successfully delivered Open Banking solutions in the UK, Europe, and Brazil. The new collaboration provides access to a larger untapped audience for both industry experts.

Banfico will engage adorsys to increase brand awareness and expand even further into the European market. Likewise, adorsys wants to boost its position as an integration and technology partner, offering the whole spectrum in the financial ecosystem, from professional support to software support. By diversifying its product portfolio to include Banfico, adorsys will meet increased customer needs. Customers want to find the best value and this new partnership allows adorsys to offer an already vetted solution and to focus on centralised and timesaving integration on the customer side.

Looking after the distribution and integration, adorsys will act as an authorised reseller of Banfico’s products OB Directory and Open Banking Dedicated API to its existing customer base and to acquire new customers.

The Banfico OB Directory is a complete TPP checking service for UK and Europe. It validates the authorisation status of TPPs that request access to customer accounts through the use of eIDAS and OBIE certificates and performs a real-time check on the National Competent Authority (NCA) register.

Their Open Banking Dedicated API is a scalable enterprise solution with a particular focus on customer identity, authentication, and security. Financial Grade API (FAPI) compliant and built to regulatory technical standards, it provides access to bank accounts and making payments.

Being proactive and responsive to customers’ needs remains at the forefront of the strategic partnership between the two companies. Banfico will provide adorsys with dedicated support and product training over the next couple of weeks as well as all the tools they need to be successful in selling their products, including ongoing training on product improvements.