digitify Services | Integrations
Integration is the process of making your applications communicate with other apps by controlling and exchanging data, and invoking services that they offer.
This is vital to your digital transformation strategy as many applications no longer live in traditional silos and need to work seamlessly with other apps and 3rd-party service providers, in a high-performance and secure manner.
This allows your business to:
FinTech Integrations
With the accelerated rise of online banking and payment applications, the ability to seamlessly perform functions in the palm of your hand is now pivotal to the success of the app.
For example, you want to allow your customers access to all sorts of activity directly through your mobile and web app i.e., open an account online, verify their identities, transfer money to individuals they have in their personal address books, use any of the credit cards they have stored, and more.
We work closely with challenger banks and online banking service providers to deliver these services by integrating applications into our ecosystem of partners, including:
Open Banking API
In plain English, Open Banking means that all regulated banks have to share financial data such as spending habits, regular payments and companies clients use, as long as the user has given permission.
Open banking APIs are used to connect third party providers to banks in a secure and consistent way. Banks provide their own APIs for use and must conform to standards set out by governing bodies e.g., Open Banking Implementation Entity (OBIE) in the UK.
Europe and the UK are now looking to widen existing open banking regulations, where other regions are emerging e.g., Australia, Bahrain, Brazil, Hong Kong, India, Mexico, Nigeria, Saudi Arabia, Singapore, and South Korea.
More recently, Indonesia, the Philippines, and the UAE have also introduced regulations, starting with bank product information and payment services.
digitify work closely with many banking and payment providers across these regions to integrate their services across the financial ecosystems, making sure that they are compliant with e.g., strong customer authentication (SCA) and common & secure communication (CSC) standards, under the Payment Services Directive (PSD2) governed by the Financial Conduct Authority (FCA).
We work with Account Information Service Providers (AISP), Payment Initiation Service Providers (PISP) and Account Servicing Payment Service Providers (ASPSP), providing the trusted framework for collaboration, so they can deliver creative, engaging and innovative experiences to clients and users, building better value and trust.
For more information on how we can integrate your digital products into a world of partner services, get in touch today – contact@stg.digitify.com
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