I would like to start this blog post by wishing all of you to be safe from Covid19 and wish all infected ones safe speedy recovery from the decease.. Due to the global pandemic situation, 'working from home' , "delivery food/goods to your homes" and importantly "purchases via digital money" have been become the norms for the situation. Thinking further this global epidemic situation has made a huge opportunity for banks on digitalizing projects. As I expressed earlier "purchases via digital money" is the norm which banks has to rethink about their current offerings. For "purchases via digital money" ,Open Banking is the main capability that banks should have.Open Banking has become a global trend during last few years due to the regulations and obligations set by law in different regions as EU, AU. From the experiences with closely worked on open banking field the common observation which I felt was banks tried to become open ba
WSO2 Open Banking solution [ https://wso2.com/solutions/financial/open-banking/ ] is a purpose built solution for regulatory compliance in global regions including EU,UK [ https://openbanking.wso2.com/ ], Australia [ https://wso2.com/solutions/financial/open-banking/australia/ ]and new emerging countries. It helps banks to align with the regulatory needs while catering technical requirements with regulatory expertise.We have been closely working with EU/UK PSD2 compliance effort during past year and have improved the solution to cater a set of emerging specification in UK/EU for open banking as; OpenBanking UK [ https://openbanking.atlassian.net/wiki/spaces/DZ/pages/16385802/Specifications ] Berlin NextgenPSD2 [ https://www.berlin-group.org/nextgenpsd2-downloads ] STET [ https://www.stet.eu/en/psd2/ ] While we are working on supporting above three specifications from WSO2 Open Banking solution,interestingly there are some common factors which have been defined from each of