OPEN BANKING APIs
The power of APIs and connectivity into a wider ecosystem
Connectivity between systems has become a critical factor that enables institutions to adopt an end-to-end approach when streamlining and automating processes.
OLYMPIC Banking System easily integrates with third-party systems thanks to its open, service-oriented architecture.
Various integration methods have been developed to integrate OLYMPIC Banking System, either as a central core with satellite systems, or as part of a larger functional architecture connecting disparate systems using different technologies.
Third-party interfacing enables support for interbank communication, broker messaging and market data feeds, as well as providing access to the increasingly important fintech community.
Constant innovation is necessary to implement optimised protocols and high-performing infrastructures with a view to providing a better user experience along with an optimised developer experience.
OLYMPIC Banking System is open and based on industry best practices. It offers a flexible and fully secure integration layer, enabling interfacing with many external systems including:
Document management systems
ETL (data extraction and transformation) systems
Regulatory reporting systems
KYC, KYT, AML & fraud detection systems
Third-party business applications, such as digital channels, CRM and data analytics systems, can be integrated seamlessly using the hundreds of OLYMPIC Banking System APIs, web services or dedicated connectors, ensuring hassle-free implementation.
Open APIs are made available to facilitate the real-time integration of OLYMPIC Banking System with complex enterprise-wide business systems. These APIs are provided in the form of RESTful web services documented using the Open API Specification (aka Swagger). These APIs are fully compliant with open banking regulations such as PSD2, LUXHUB, Open Banking UK, etc.
Security is a key concern in relation to these enterprise APIs, and message-level security is achieved in compliance with OAuth 2, OIDC, WS-Security and JAAS standards. Transport-level security requires TLS/HTTPS.