MuleSoft for Open Banking
Embrace the future of banking with MuleSoft and NJC Labs. Empower your Open Banking initiatives with cutting-edge solutions designed to drive innovation, efficiency, and exceptional customer experiences.
Open Banking is transforming financial services by mandating banks to securely share customer data with third-party providers via APIs. This regulatory framework fosters innovation, competition, and improved customer experiences.
MuleSoft plays a pivotal role in this transformation, providing a robust platform that seamlessly aligns with the evolving needs of the banking industry.
Why MuleSoft for Open Banking?
API-led Connectivity
Unlock the value of your data by securely exposing core banking functionalities as APIs. MuleSoft’s Anypoint Platform empowers banks to integrate seamlessly with third-party applications, driving innovation and personalized customer experiences.Unified Environment
Design, build, manage, and monitor APIs in a single, unified environment. Simplify the complexities of legacy systems and disparate data sources, accelerating API development and reducing time-to-market for new products.Regulatory Compliance
Adapt swiftly to regulatory changes, ensuring compliance and security in your Open Banking initiatives.
Open Banking Accelerator with MuleSoft
NJC Labs, leveraging MuleSoft’s platform, offers a powerful Open Banking Accelerator that helps banks implement Open Banking capabilities faster and more cost-effectively.
Pharmaceutical companies, medical device and equipment manufacturers and diagnostic laboratories can leverage MuleSoft to enable integration of different systems, applications and devices by expanding IoT and unlocking siloed data to powerful insights and experiences.
Implement consent flows compliant with OAuth 2.0/OpenID Connect standards, with user authentication via username/password and OTP mechanisms - all integrated with your IAM solution. Web page templates designed for user login and consent management. Admin API’s are created to manage the consents.
API to adhere to JOPACC specifications. Consent validations integrate into the API functionality. Sandbox APIs are available for testing and development purposes.
Development portal with dedicated pages for TPP developers to view our API’s and request access to sandbox and production environments. Workflows are defined within the portal to streamline developer interactions and processes.
NJC Open Banking Accelerator Benefits
Pre-built modules and frameworks accelerate the development of new banking products and services, reducing time-to-market.
Strong focus on compliance with industry standards like PSD2 and GDPR, ensuring the protection of customer data.
Integrate effortlessly with existing banking systems and infrastructure, leveraging existing data and resources while modernizing with open banking functionalities.
Unlike off-the-shelf solutions, NJC Open Banking accelerator can be tailored to meet specific needs, aligning with strategic objectives, branding, and customer preferences.
NJC Open Banking Accelerator with the ISTIKA framework: Fast, Secure, and Scalable
Choose NJC’s Open Banking Accelerator, built on the AI-powered ISTIKA framework, to elevate your banking vision. Unlock the benefits of rapid development, superior customer experience, and seamless integration with a robust, secure, and compliant solution.
Superior Customer Experience
Optimize operations with API-led connectivity and automation, delivering an exceptional client experience.Compatibility and Interoperability
Ensure smooth integration across various systems and applications with a common API data model.Pre-built APIs
Expedite development with pre-built APIs, custom core banking integration, and a developer portal.Security and Compliance
Adhere to stringent security measures and industry regulations, safeguarding customer data.Harness the power of API-led connectivity and automation to optimize operations and deliver a superior client experience.
Achieve seamless compatibility and interoperability across various systems and applications using a common API data model.
Benefit from enhanced data analytics and a standardized presentation of essential wealth management data elements.
Our solution includes pre-built APIs, custom core banking integration, a developer portal in SFDC, and Token Management in Redhat Keycloak.
These features expedite development, reduce costs, and provide a robust foundation for building scalable, future-proof Open Banking solutions.
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