Our client’s challenge
Banco BMG needed to align with Open Banking regulations. The primary objective was to ensure that its API infrastructure could effectively store all consented data for customer behavior analysis. The bank also aimed to establish secure communication channels with other banks, all while meeting compliance requirements.
Sensedia’s role
Sensedia’s API Management platform enabled effortless integration into the bank’s existing infrastructure, ensuring compliance with security regulations.
Experience gains
BMG successfully aligned with Open Banking requirements, demonstrating its commitment to the security of participants' communication channels, products, and services. The bank effectively safeguarded customer data and leveraged Open APIs to develop innovative payment and credit solutions.
Strategic gains
In June 2021, BMG reported an impressive growth of 28.2% over a 12-month period, accompanied by a remarkable surge of 240.5% in active account holders. The bank also demonstrated its commitment to innovation by opening its APIs to third parties, thereby establishing a robust foundation for Open Finance initiatives.
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