Overview
Through our open banking CoE, Tech Mahindra works with banks to build bespoke compliance platforms from the ground up. Each platform is shaped around local regulatory requirements, customer journeys, and strategic priorities—with scalability and future readiness built in from day one.
Are You Ready for the Open Banking Compliance?
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 real challenge lies in keeping pace with regulatory timelines, holding third parties and internal systems to same compliance standards, and remaining audit-ready at all times. This is the reality many institutions are navigating today.
End-to-End Open Banking Enablement CoE
Banks and credit unions need compliance embedded into core operations, ensuring faster regulatory alignment without slowing innovation. Tech Mahindra’s open banking compliance solution is designed to support this need, aligning 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 is faster compliance execution, with continued room for innovation and digital growth.
Solution Highlights
- Regulatory Gap Analysis: Where does the institution actually stand on open banking readiness? This assessment maps current compliance maturity and connects regulatory requirements directly to business priorities.
- Customer Journey Design: Consent driven user journeys, designed in line with established global best practices, with a focus on meeting compliance requirements without compromising customer experience.
- Use Case and Governance Advisory: Not all use cases carry the same regulatory impact. Tech Mahindra helps identify priority use cases and defines governance models aligned with local regulatory requirements.
- End‑to‑end API strategy: Tech Mahindra’s open banking CoE covers the full lifecycle—from API strategy and roadmap definition to legacy transformation. The objective is to establish a scalable API ecosystem aligned with regulatory expectations.
- Accelerated API delivery: From API development and gateway configuration to test automation and CI/CD pipelines, this approach enables end‑to‑end delivery designed to significantly compress time‑to‑market.
- API ecosystem enablement: API productization, developer portals, and third‑party provider (TPP) onboarding support broader adoption, new monetization opportunities, and secure third‑party access.
- Consent‑driven access control: Secure consent flows are foundational to open banking. Tech Mahindra architects and deploys consent frameworks using OAuth 2.0, OpenID Connect, and FAPI profiles—embedding compliance by design, not as an afterthought.
- Adaptive IAM architecture: Existing IAM platforms often require modernization to support open banking requirements. Current capabilities are assessed, followed by the introduction of multi‑factor authentication, federated identity, and role‑based access aligned to defined use cases.
- Consent UX optimization: Consent interfaces and user journeys are frequently underestimated. CoE‑led UX teams redesign these touchpoints for clarity and regulatory alignment across all digital channels.
- Microservices‑driven integration: Connecting to core banking systems does not require rigid, monolithic integrations. Microservices and middleware are applied to maintain modular, agile architectures within open banking environments.
- Targeted refactoring and modernization: Legacy components that limit performance or scalability are selectively refactored, while new microservices are introduced where open banking use cases and performance demands require them.
- 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: Standards‑compliant APIs are secured through encryption and tokenization from the outset, ensuring data exchange remains protected and aligned with open banking requirements.
- End‑to‑end audit and lineage: Comprehensive audit logging, traceability, and data lineage span consent flows, access records, and transaction histories, ensuring regulatory visibility end to end.
- Policy‑driven data governance: Data privacy, retention policies, and access controls are governed through robust frameworks applied consistently across the open banking ecosystem.
- Real‑time API monitoring: Real‑time dashboards track API performance, availability, and usage patterns, enabling continuous visibility without reliance on batch reporting.
- Proactive alerts and thresholds: Automated alerts detect anomalies, failures, and SLA breaches in real time, allowing issues to be identified and addressed before escalation.
- Compliance‑ready reporting: Audit‑ready reports with detailed logs and metrics support regulatory reviews and informed 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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