The multinational collaboration combines Ozone API’s compliant open API platform with ClearBank platform’s capabilities, ensuring the bank can deliver Open Banking services that meet regulatory requirements and its clients’ needs and demands.
As ClearBank moves forward with its goal of global expansion after it launched in Europe through the Netherlands in 2024, the collaboration is expected to bring benefits to markets seeking Open Banking. By leveraging Ozone API’s expertise in Open Banking with ClearBanks’ knowledge in banking and financial services, the partnership will support the bank’s customers in utilising open APIs that comply with industry standards in the UK and the EU. This will enable them with the tools necessary to capitalise on Open Finance opportunities, well beyond PSD2 compliance.
Ozone API operates across global markets, including in Europe, the Middle East, LATAM, and North America. This enables ClearBank to access Ozone’s expertise in Open Banking and API integration, offering innovation in more banking and financial markets. Having already supported mutual customers in the past, Ozone API is committed to creating a NextGen, Open Banking technology stack by combining gits technology with ClearBank’s. The bank aims to maximise its platform’s capabilities to offer a better experience for its clients, especially as it expands throughout Europe.
This partnership follows Ozone API’s other moves, focusing on the SEPA region and the US. The company launched a new guide to assist banks and PSPs across the SEPA in preparing for the upcoming VoP requirements, and partnered with Bespin Global to offer an end-to-end Open Banking solution in the US.
Both initiatives took place due to changing regulations in the aforementioned regions, with the company aiming to enable financial institutions to comply with new industry laws.
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