Open Banking API technology provider Ozone API has made its software solution available on Temenos Exchange, a partner ecosystem of integrated fintech solutions.
The Ozone API on Temenos Exchange enables Temenos banks to achieve “near-instant” Open Banking and Open Finance compliance.
Temenos’ core banking customers can access ‘out of the box’ compliance, in addition to ‘beyond compliance’ tools for premium APIs and embedded finance via the Ozone API.
The Temenos Exchange ecosystem offers pre-integrated and pre-approved fintech solutions which can be deployed on top of Temenos’ open platform for composable banking.
Martin Bailey, director of innovation and ecosystems, Temenos, said: “Temenos Exchange acts as an accelerator for fintechs and software developers, helping them develop, validate and monetize new banking solutions.
“Joining Temenos Exchange means Ozone API can write once and be readily available to the thousands of banks globally that run on our platform.”
Ozone API’s founding team, including chief executive officer Chris Michaels and chief technology officer Fredd Gyara, led the development of the UK’s Open Banking standards.
Today, the Ozone API powers the Open Banking implementations of banks and financial institutions globally and has a particularly strong footprint in the UK, Europe, Latin America and the Middle East, with clients such as Tide and Monese.
Huw Davies, Ozone API’s co-founder and chief commercial officer, added: “We’re on a mission to help banks adapt to and thrive in the new world of Open Banking and remove complexity along the way.
“We’re really excited to join the Temenos Exchange and make it super simple for any Temenos bank to deliver great Open Banking APIs that comply with regulation and go beyond compliance.”
Listen to Huw Davies and Chris Michaels explain how they came to create the UK’s Open Banking Standard on the Open Banking Expo Unplugged podcast.