Ozone API specialises in facilitating banks and financial institutions in adopting innovations in Open Banking. Its platform allows banks worldwide to implement standards-compliant open banking APIs and transform these APIs into strategic commercial channels.
The collaboration between these two entities aims to enhance services for clients and prospects by leveraging CLOWD9's payments processing platform alongside Ozone API's proficiency in Open Banking. The combined strengths of both companies aim to address the specific needs and challenges faced by financial institutions, offering specific solutions to foster growth and success.
The partnership's focus is on creating a comprehensive ecosystem that helps banks and financial institutions thrive in the evolving landscape of Open Finance. The joint effort seeks to improve the industry by supporting innovation for the benefit of industry players and investors.
In the company press release, officials from Ozone API expressed enthusiasm about the collaboration and talked up the team at CLOWD9 while acknowledging its ability to deliver a cloud-based payments platform that powers innovation for their customers. They also expressed their excitement to combine their Open Finance API platform with the CLOWD9 technology stack with the goal of helping banks adapt and thrive.
In turn, representatives from CLOWD9 emphasised the strategic selection of partners aligned with their commitment to providing best-in-class services. They also expressed pride in working with Ozone API as a technology leader in Open Banking and highlighted their joint efforts to provide technology that delivers compliant open APIs while helping monetise issuer processing and Open Banking around the world.
Being committed to enabling banks to deliver open APIs that adhere to regulation and increase revenue, Ozone API developed a standards-based open API platform that can be leveraged by both financial institutions and regulators. The company’s solution offers high-performing, standards-compliant, and secure API technology that enables it to expand in the current landscape of Open Finance.
In January 2024, Ozone API has raised GBP 8.5 million in a Series A funding round led by Gresham House Ventures. With the newly acquired funds, Ozone API planned to continue its global expansion and invest in its team, while assisting all emerging standards and offering the tools for banks to monetise open APIs. Moreover, the company intends to provide support and infrastructure to enable entire markets. According to Ozone API officials, Open Finance is currently evolving, and the company aims to assist in driving the use of this technology.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now