Kong makes Open Banking work

Kong provides the API platform and tools you need to ensure your Open Banking initiatives succeed.

Open Banking solutions

Jump-start your Open Banking journey

New to Open Banking? Don’t let ever-changing Open Banking standards catch you off guard. As Open Banking mandates continue to ripple across the financial realm, find out what you’ll need to get started with the right Open Banking solution.

Get your Open Banking initiative on track

Struggling to realize the promised benefits of Open Banking? No matter where you are in your journey, see how to get your Open Banking initiative on the right track with Kong’s technology and lessons learned from the UK.

The benefits of Open Banking

Enhance data accessibility

Open Banking mandates banks to open up access to customer financial data (with customer consent) to third-party providers. This shift creates a landscape where data is more freely accessible, allowing for innovative financial services and applications.

Build personalized financial services

The availability of rich, customer-centric data enables third-party providers and financial institutions to tailor services. This can lead to more personalized banking experiences, better financial advice, and customized product offerings.

Gain a competitive advantage

The commercialization of Open Banking enables lending, credit assessment, payment capability, reconciliation, and more. The data-driven landscape fosters innovation as established banks and new entrants can develop novel products and services.

Unlock Open Banking with Kong’s API Platform

Scale Open Banking in any environment

Cutting-edge financial institutions frequently operate in environments that may introduce unpredictable traffic demand. Kong’s platform provides customers with the dynamic scalability they need to ensure efficient use of compute resources across cloud and on-prem environments.

Learn how Kong’s “best in class” scalability and agility helped First Abu Dhabi Bank reduce operational costs by 57%.

Comply with Open Banking standards

Kong simplifies the integration and management of banking APIs, offering tools for Dynamic Client Registration (DCR) through the Kong Konnect Developer Portal, secure communication through mTLS authentication, and comprehensive OAuth 2.0 support for managing access and permissions. Customers can safeguard their data and transactions with Kong while maintaining adherence to Open Banking compliance regulations like PSD2 and GDPR.

raiffeisen bank logo

See how Raiffeisen Bank International (RBI) standardizes data access and ensures operational resilience with Kong.

Unlock new revenue streams

Open APIs in banking create exciting new opportunities between financial institutions and third-party providers. Kong’s platform acts as the first point of contact for partner developer ecosystems — a one-stop shop to discover banking APIs, monetize data and services through APIs, and drive smoother onboarding. This enables banks to pilot ideas faster with their partner ecosystem, create more personalized customer experiences, and unlock new revenue streams.

Learn how ANZ Bank leverages Kong to unlock Open Banking innovation around new financial products and services.

Gartner names Kong a Leader

For the fourth consecutive year, Kong was named a Gartner® Magic Quadrant™ Leader for API Management

Related Resources

Questions about Open Banking?

Contact us today and tell us more about your configuration and we can offer details about features, support, plans, and consulting.