Unlock open and embedded banking to scale your business
Interested in how the Financial Data Exchange (FDX) and Consumer Financial Protection Bureau (CFPB) will impact your business? Explore the benefits of open banking and embedded finance to improve customer experiences, increase revenue, and speed up the launch of new financial products.
Simplify and accelerate FDX and CFPB adoption
By leveraging Sensedia's FDX support and how it relates to the CFPB data protection law, institutions can seamlessly align with industry governance, regulatory, and compliance requirements, and enterprise data management standards.
We are experts in Open and Embedded Finance ecosystems
Using Sensedia's Open Banking Platform, our customers can accelerate Banking as a Service (BaaS), Embedded Finance, and Open Banking strategies that are developed and supported via a true Open standards compliant platform.
Sensedia is the top choice for Open Banking solutions
Sensedia's API platform offers ready-to-use features such as security, traffic management, cache, and out-of-the-box connectors to mainstream databases and other services that help you and your partners achieve better results in a shorter time-to-market.
Leading the Way in API Management
We received industry recognition as a Leader in the global report The Forrester Wave™: API Management Solutions, Q3 2022, receiving the highest scores in Product Vision, Planned Enhancements, Supporting Services, and Market Approach.
Simplifying integrations to focus on client innovation
Real-life success stories demonstrating the practical application of our solutions.
Count on the guidance of our expert consultants
We partner with you in API design and implementation, getting regulatory and security certifications, and doing sandbox testing. This helps make sure you smoothly go through all the steps of Open Banking with no unexpected issues
Level up your payments with QR Code, Pix, FedNow
We handle the task of collecting customer data from different institutions, enabling you to focus on innovating your business through new payment systems and embedded payment solutions.
Manage your open finance ecosystem
Access detailed API and user consent information through interactive dashboards, manage certificates and scheduled maintenance, and simplify partner onboarding and business integration.
About FDX & CFPB
The FDX API is the standard unifying the financial industry, providing individuals and institutions with a safe and reliable method to access their financial information. The CFPB, launched on October 19, 2023, is targeting the implementation of fair, transparent, and competitive practices for financial services consumers. Despite the lack of a singular standard, API implementations must be built with security, scalability, and interoperability in mind to facilitate secure data exchanges and compliance requirements.
Begin your Open Banking journey today
Leveraging Sensedia's technical expertise and a mature Open Banking platform, you can seamlessly enter the Open ecosystem and explore new business opportunities.
Discover our entire suite of products
Service Mesh
Achieve agility in developing, operating, and evolving distributed applications.
API Adaptive Governance
Ensure the security and flexibility of your architecture with confidence.
Frequently asked questions
Find the answers to the most common questions about our Open Banking platform.
APIs, or Application Programming Interfaces, are the foundation of open banking, enabling third-party developers to access and utilize the functionalities of banking systems in a secure and controlled manner. APIs serve as the essential "bridges" that facilitate seamless communication and interaction between software systems.
In the United States, there is currently no widely adopted or regulated singular standard. However, various protocols and standards have emerged to address this, including the Financial Data Exchange (FDX) standard. FDX is a unified protocol with the objective of establishing a secure and interoperable standard for sharing consumer financial data.
Despite the lack of a singular standard, it is crucial for API implementations to be built with security, scalability, and interoperability in mind to facilitate secure data exchanges.
Open banking is a system where banks and other financial institutions provide access to their data via application programming interfaces (APIs). This enables third-party developers to build innovative applications and services around financial institutions. Open banking is intended to provide more consumer choices, improve the customer experience, and promote economic efficiency. While open banking is mandated by regulations like PSD2 in Europe, its advancement in the USA is primarily driven by market forces and the competitive landscape between banks and fintech companies.
The potential benefits of open banking include a more competitive market, increased innovation, better financial management tools, and better, more customized products and services for consumers. However, open banking also introduces new risks, particularly concerning data privacy and security. With an increasing number of third parties gaining access to sensitive financial data, the potential for data breaches or misuse of information becomes more pronounced.
Why choose Sensedia?
We have been closely monitoring Open Banking since its inception and actively involved in its evolutionary agenda. Our unrivaled expertise in this market-disrupting initiative enhances the experience of our clients in the financial sector.
