Open Banking Sandbox

Banks and Financial Institutions now recognize the value they can generate from Open Banking. But “HOW?” raises a set of challenges that they need to address.

• How can I provide highly secure APIs that meet the regulatory requirements?

• How can I create an API marketplace for third party developers to let them subscribe and test the APIs to create value added services?

• How do I obtain, store, and validate consent from my customers to be able to share their data?

We are helping Banks and Financial Institutions to address these challenges with our Open Banking compliant sandbox with the expertise of our banking consultants. Brillio can help you experiment and validate use cases at an accelerated pace and lower price point, that range from Account Aggregation to Credit worthiness checks and friction-less payments to embedded finance. Our platform provides APIs with open banking schemas and complies with financial grade security standards built on OpenID and PSD2. The platform also provides a robust consent management and data architecture that can be used to store customer’s full financial information across Banking, Investments, Trading, and Insurance accounts.

Our Banking and Technology consultants can help you make sense of the open banking regulations and articulate the benefits and find right use cases for you. Our technology experts can quickly customize the Sandbox according to your hosting environment and with the suitable data to experiment and validate the end user application. Once a right use case has been approved, we help you productionize the same in the live environment of your choice.

Open Banking Sandbox

Brillio will provide a fully functional Open Banking API Sandbox that offers standardized Open Banking APIs with financial grade security using OpenID’s FAPI standard. This sandbox is readily available to be deployed in your environment with Infra-As-A-Code templates, or it can be quickly customized to suit your needs. It also provides mock data facilities that can create data as per your Bank’s needs. The Sandbox is built on AWS cloud native architecture and uses open-source technologies including AWS Amplify, Cognito, API Gateway, React, NodeJS and Keycloak.

Consent management and Data management are also two key important aspects of the sandbox that helps provide users full control of their own data and provide a view of end-to-end financial footprint.

Open Banking API Portal

A fully functional API catalog and developer portal which can be used to publish and distribute APIs for the developer community.

Open Banking Advisory

We go beyond connectivity and data aggregation - we make this usable and meaningful, resulting in better products and customer experiences.

• Affordability checks on the fly for lenders and service providers

• Eligibility checking for access to products and services

• Categorization of data for deeper analytics and pre-authorization

• Instant account to account payments

• Variable recurring payments and account to account sweeping

• Personalized financial insights and nudges to power smart savings propositions, through aggregating customers’ accounts and financial data

• Identifying and managing vulnerability for debt management and arrears

• Combining datasets to expand beyond Open Banking, into Open Finance and Open Data

• Compliance with Consumer Duty regulations

Discovery and Assessment

Our Open Banking experts can help understand your current business needs, IT landscape and provide recommendations for new business scenarios with sandbox customizations for Open Finance use cases. As per the Customer’s objectives, requirements and/or design documents shall be created along with planning, test, and go live documentation as defined by Customer’s methodology.

• Assess the As-Is environment and provide recommendations to comply with Open banking regulations.

• Identify new Open Finance use cases with business validations.

Development, Deployment and support

In this phase Brillio team will customize the Sandbox to suit the business and data needs of the customers.

• Customization for the Sandbox

• Requirements, technical design, development, and deployment for new Open Finance use cases

• Mock Data customization

• Post go-live support

Please contact aws-marketplace@brillio.com  for additional information.