Open Finance

Open Finance

The Next Wave in Data Exchange: Smart. Secure. Scalable.

Clients are demanding greater access and control over their financial data through new user-friendly, more transparent applications.

But challenges abound. Security threats are real and increasing. Data acquisition from multiple sources is costly and often results in a poor customer experience.

And standardized access is anything but standard. The Ninth Wave platform with Open Finance API overcomes these challenges, enabling Open Banking and standardizing financial data sharing among financial institutions, Fintechs, third-party providers and consumers.

Single, Secure Platform

Provides Financial Institutions with a single, enterprise platform to securely share financial data, addressing the regulatory initiatives of Open Banking, including PSD2 adoption and full compliance.

Customer-Centric

Enables an all-digital, user friendly approach to meet evolving customer expectations, providing a better and more transparent financial services experience while increasing customer loyalty.

New Revenue Streams

Facilitates the creation of new revenue streams and models by monetizing API access to data with third-party providers and effectively consolidating customer data.

Greater Data Control

Gives customers more transparency and control over their financial data, including who can see it, how it is provided and exactly what data can be shared.

Third-Party Access

The Ninth Wave Fintech Registry™ allows financial institutions (FI) to leverage our deep expertise and experience with Fintech applications. The Fintech Registry™ is populated with Fintech registration data allowing banks to share data only with bank-approved Applications and vendors.

There are also help and support options for Ninth Wave FI customers and automatic provisioning capabilities saving FI’s years of trial and error learning. The Fintech Registry™ represents certified Fintech apps that have proven production deployments with financial institutions.

The Ninth Wave Open Finance API also provides third party vendors (Fintechs and aggregators) with standardized access to customer financial data in a regulated and secure environment. It provides a level of abstraction from non-uniform and incompatible bank API’s.

Traffic Reduction

Reduces heavy internet traffic to financial institution websites and the load on core systems, enabling a better customer experience. Ninth Wave Enterprise Edition also provides proprietary Netting capabilities that prevent multiple applications and aggregators from aggregating the same account multiple times per day. Effectively, this partitions the ‘outside world’ from the money making core systems of financial institutions.

Learn more about how Ninth Wave can provide you with universal financial data integration, delivering a secure, seamless and standardized information supply chain at massive scale.