Overview
Through our Open Banking CoE, TechM works with banks to build bespoke compliance platforms from the ground up. Each platform is shaped around local regulatory requirements, the bank’s own customer journeys, and its strategic priorities - with scalability and future readiness built in from day one.
Is Your Bank Open Banking Ready?
Every region has its own Open Banking rulebook—and those rulebooks keep getting updated. Banks face strict requirements around data protection, consent, security, and reporting. The hard part? Staying current with regulatory timelines, holding third parties and internal systems to the same compliance bar, and being audit-ready at all times. That’s the challenge most institutions are wrestling with right now.
End-To-End Open Banking Enablement CoE
Banks and credit unions need compliance built into core operations, ensuring faster regulatory alignment without slowing down innovation. TechM’s open banking compliance solution does exactly that, built to align with leading standards like UK Open Banking, EU-PSD2, and Australia’s CDR. Our Center of Excellence (CoE) brings together domain-led advisory, gap assessments, and hands-on implementation—covering consent, data governance, and core integration. The result: compliance moves faster, and there’s still room for innovation and digital growth.
Solution Highlights
- Regulatory Gap Analysis: Where does your institution actually stand on Open Banking readiness? This assessment maps that out—and ties your compliance strategy directly to business priorities.
- Customer Journey Design: Consent-driven user journeys, built with the best global practices in mind. The focus here is on compliance without sacrificing the customer experience.
- Use Case and Governance Advisory: Not all use cases carry the same weight. We help identify the high-impact ones first, then build governance models around your local regulatory landscape.
- End-to-End API Strategy: TechM’s Open Banking CoE covers the full arc—API strategy, roadmap definition, and legacy transformation. The goal: a scalable API ecosystem aligned to the standards your regulators expect.
- Accelerated API Delivery: From API development and gateway setup to test automation and CI/CD pipelines—this is end-to-end delivery, designed to compress your time-to-market significantly.
- API Ecosystem Enablement: API productization, developer portals, TPP onboarding. These capabilities open the door to broader adoption, new monetization channels, and secure third-party access.
- Consent-Driven Access Control: Secure consent flows are non-negotiable in Open Banking. We architect and deploy them using OAuth 2.0, OpenID Connect, and FAPI profiles—so compliance is embedded, not bolted on.
- Adaptive IAM Architecture: Your existing IAM platform may need an upgrade to handle Open Banking demands. We assess what’s there, then layer in multi-factor authentication, federated identity, and role-based access specific to your use cases.
- Consent UX Optimization: Consent screens and user journeys often get overlooked. Our CoE-led UX team redesigns these touchpoints for clarity and regulatory alignment—across every digital channel your customers use.
- Microservices-Driven Integration: Connecting to core banking systems shouldn’t mean rigid, monolithic integrations. We use microservices and middleware to keep things agile and modular within your Open Banking architecture.
- Targeted Refactoring and Modernization: Legacy components that can’t keep up? We refactor what needs refactoring and introduce new microservices where the Open Banking use cases and performance demands call for it.
- Accelerated Middleware Transformation: Deep integration expertise is applied to modernize ESB layers, streamline data flows, and systematically reduce technical debt across the banking ecosystem.
- Regulatory-Grade API Security: Standard-compliant APIs, with encryption and tokenization built in from the start. Data exchange stays protected and fully aligned to Open Banking standards.
- End-to-End Audit and Lineage: Audit logging, traceability, data lineage, all of it, end to end. Covers consent flows, access records, and transaction histories so nothing falls through the cracks.
- Policy-Driven Data Governance: Data privacy, retention policies, access controls—these need governance frameworks with teeth. We put those frameworks in place across your entire Open Banking ecosystem.
- Real-Time API Monitoring: Real-time dashboards that track API performance, availability, and usage patterns. No waiting for batch reports—everything’s visible as it happens.
- Proactive Alerts and Thresholds: When something goes wrong—an anomaly, a failure, an SLA breach—automated alerts fire immediately. Issues get flagged and resolved before they snowball.
- Compliance-ready Reporting: Build audit ready reports with detailed logs and metrics to support regulatory reviews and operational decision-making.
Compliance Built to Scale Innovation and Growth
- Enables timely compliance with EU-PSD2, UK Open Banking, AU-CDR, and other mandates
- Consent, identity, and access control grounded in recognized standards
- Regulatory obligations enforced consistently—across the bank and every accredited third party
- Audit readiness that holds up, backed by continuous monitoring and reporting
- Lower regulatory risk across APIs, data sharing, and core banking systems
- Built to absorb regulatory changes and framework updates at enterprise scale
- Stronger data protection and full compliance with consumer control requirements
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