The open banking platform-SAB is implementing “Open Sab” that enables API management in SaaS mode, to meet the new industry norms of PSD2 and instant payment.

“Under the impact of new technologies, innovative players and regulations, the banking world is undergoing a revolution. Banks must offer completely open systems, available at all times without any interruption of service, with a very high level of performance and delivering information in real time, said SAB. “To meet this challenge, SAB proposes to set up a complete API management platform with access security, directly connected to customers’ Sab AT software package and offering APIs including strong business content.”

It includes comprehensive API management, a strong authentication application and a wide range of banking functions based on SAB experience that can be displayed and used as an API, SAB said in a statement. It also includes all management and administration functions of APIs such as test, monitoring and accounting as well as third party callers.

The new platform will enable banks to open their current system at a lower cost and within a short time frame. Open Sab is available both to institutions operating Sab AT on their own infrastructure and to those accessing it in SaaS mode.

It also includes Sab Extended Strong Authentication, based on a dedicated mobile application available on Android and Apple iOS. Sab API Management is hosted in the heart of a private cloud.

Open Sab’s B-APIs include specific business functions that are developed in a “high availability” architecture. These are fully integrated with Sab AT environments held by SAB customers.

SAB said that the integration between Open Sab and Sab AT will be done through existing web services or dedicated real-time synchronization modules. Through the B-APIs, the entire Sab AT platform can be exposed via APIs, with all the access security, performance and high availability.

by Parnika Sokhi
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