Open Bank Project

bankingtechnew core banking solutions

FOUNDING YEAR: 2013
LOCATION: Germany
Last Update: 08/09/2020

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About

The Open Bank Project is the leading API solution for banks that developers and companies can use to build innovative applications and services based on the account holders transaction data.

MEDICI Analysis

The Open Bank Project provides an open source API for banks that developers and companies can use to build innovative applications and services based on the account holders transaction data. It uses an enterprise ready technology stack and supports Internet protocols such as OAuth.

Focus

PRODUCTS & SERVICES

Banking API

REVENUE MODEL

Subscription

PRIMARY PROBLEM SOLVED

Open Banking Infrastructure Reach out to fintech ecosystem PSD2 Compliance in Europe

company provided insights

Traction

REVENUE

$0 - $99k

REVENUE COMMENT:

Revenue target not disclosed

TRANSACTIONS COMMENT:

Not relevant

ACTIVE USERS:

6000

ACTIVE USERS COMMENT:

The past year has seen a growing interest in open APIs in banking, notably triggered by PSD2 in Europe and the Open Banking Standard in the U.K. Download our Open Banking Report to learn more about this trend https://openbankproject.com/report/

People

NUMBER OF EMPLOYEES

1-10

INVESTORS:

ODI Startup Accelerator

Momentum

FUNDED

NO

DATE OF LAST FUNDING

Oct 2013

SEED CLOSED ON

Oct 2013

LISTED

NO

Innovation Programs

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Open Bank Project

About

The Open Bank Project is the leading API solution for banks that developers and companies can use to build innovative applications and services based on the account holders transaction data.

Focus

PRODUCTS & SERVICES

Banking API, Sandbox, PSD2 API Platform

REVENUE MODEL

Subscription

TOP PROBLEM SOLVED

Open Banking Infrastructure Reach out to fintech ecosystem PSD2 Compliance in Europe

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

API Platform for banks with: - Full API Experienced white-labeled for banks - 130+ Standardised APIs including PSD2 APIs - 6500+ developers worldwide

KEY DIFFERENTIATORS

- Breath of APIs - Global FinTech Community - Security - Team has been working on banking APIs for 5 years

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

PRODUCT ATTRIBUTES

On-premises

White label

STRATEGIC CLIENTS AND PARTNERSHIP

BNP Paribas :

Société Générale :

Emirates NBD :

UniCredit :

Australian Payment Council :

Traction

ANNUAL REVENUE:

$0 - $99k

REVENUE COMMENT:

Revenue target not disclosed

TRANSACTIONS VALUE:

0.00

TRANSACTIONS COMMENT:

Not relevant

ACTIVE USERS/ACCOUNTS:

6000 Million

ACTIVE USERS COMMENT:

The past year has seen a growing interest in open APIs in banking, notably triggered by PSD2 in Europe and the Open Banking Standard in the U.K. Download our Open Banking Report to learn more about this trend https://openbankproject.com/report/

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

Direct sales, bank production deployment, partner network,

CHANNEL STATUS

INITIAL CLIENTS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

30

People

NUMBER OF EMPLOYEES

11-50

TEAM COMMENT:

Our team has spent the last 3 years serving the financial service ecosystem through the Open Bank Project,the hack/make the bank hackathon series. The team includes senior executives with more than 75 years of banking experience & IT experience

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES