Core Banking Provider Ohpen announces new API Portal to reduce IT implementation time by up to 40%

IT and re-platforming projects in financial services have a reputation of running over time and budget. Therefore the world’s first fully cloud-based core banking provider Ohpen, has launched the Ohpen API Portal (OAP) in beta. OAP allows banks, insurance companies, and asset managers to easily assemble the products and services they would like to use, generate code and apply it in their online or mobile banking sites. This reduces time to market of API integration by up to 40% for new features and functionalities – or for even launching a whole new bank.

Sandboxing, time travelling, and “copy-pasting” code made easy

Since its start in 2009, Ohpen was one of the first to follow a full-scale API strategy, enabling easy integration in new and legacy architectures. Ohpen currently boasts over 300 API calls which can create a full savings or investment bank. The Ohpen API Portal features a development console where all process operations required to run a bank can be explored. The console offers a sandbox that simulates the client’s technical landscape where these operations can be built, tried, and tested. These operations can be easily integrated in any application and website, in the knowledge that they have been tested and actually work.

Reducing complexity in IT transformations

The Ohpen API portal and the Ohpen Platform, both being cloud-native, are real-time synced. New features and releases in the Ohpen Platform are immediately available to software developers who use the Ohpen API Portal. The development console works for software engineers and product owners. When both user types are aligned, this makes core banking IT transformations simpler.

Erik Drijkoningen, Ohpen’s director of product development: “Providing our clients with the ability to assemble blocks of API calls that they can easily integrate in their own applications, whether it is internet or mobile banking, just works. Time to market of new releases, adding extra functionalities, or deploying a whole new investment or savings bank can now be done much faster and better improving reliability – all to the benefit of the retail customer.”

Increasing reliability and adaptability

In the past, financial services companies didn’t really know what to expect from upgrades or even from replatforming. They had no way to predict how the new software would perform or interact with their applications. The Ohpen API Portal allows them to choose any function or module from the Ohpen Platform, test it, assess its workings and then integrate it in their online or mobile sites. They will always have the latest version and compliance updates and it just works.

The Ohpen API Portal is available to all Ohpen clients.

Author: Yash Hirani

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