Pelican expands pan-European Open Banking API interoperability

Wednesday 27 March 2019 13:02 CET | News

Pelican, a global provider of AI-powered payments and financial crime compliance solutions for banks and corporates, has announced the further extension of its API Interoperability solution.

This means expanded support for the six popular Open Banking API standards, now including the UK’s OBWG, Frances STET and the Berlin Group, together with the Czech CSOB, and the Polish and Slovakian APIs.

The Pelican API Interoperability solution enables Third Party Providers (TPPs) to access PSD2 Payment Initiation and Account Information services, and to connect to financial institutions implementing any of the popular Open Banking APIs, regardless of whether they are native TPPs, or banks wishing to operate as TPPs in an Open Banking environment.

The Pelican API Interoperability solution is unique in enabling organisations to adopt any of the popular PSD2-compliant APIs and to connect to all European banks, regardless of the different popular API standards the banks may be using. Pelican provides interoperability between all accepted formats, acting as a conversion ‘switch’ that harmonises the differences between various APIs.

Pelican’s interoperability functionalities are also attractive to banks wishing to internally standardise on one single API, but with a need to offer multiple API standards to reach a wider pan-European marketplace, or for banks that have already published a specific API and wish to support various other API standards across different business lines or in different jurisdictions.

Pelican’s subsidiary company, PelicanPay, is a regulated TPP providing additional Payment Initiation and Account Information Services solutions to SMEs, corporates and fintechs.

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Keywords: Pelican, Open Banking, API, interoperability, third party providers, compliance
Countries: World