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

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.

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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.

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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.

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%.

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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.

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

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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.