Integrated

Standardized

Scalable

The simple and secure way to provide an Open Banking Channel

The dynamics of the current market place ensure that delivering Open Banking solutions is a trend which is set to grow in the coming years. Already many third-party providers are offering services based on accessing multiple banks.

The criteria for Access to Accounts

In Europe, the regulator has stepped in and defined in PSD2 a strict set of rules with which each bank must comply:

 

The rulebook for account access with PSD2
The XS2A Connector for the MultiCash Communication Platform: Scalability and Seamless Integration

Fully Integrated, Standardized and Scalable – Omikron’s Approach

Within the omni-channel design of the MultiCash Communication Platform, the new XS2A Connector is seamlessly integrated alongside other channels (e.g. EBICS, MCFT, online banking).

In order to ensure rapid market maturity and implement new standards quickly, Omikron’s design is closely aligned with the specification standards of the Berlin Group. Using the REST-API provided, ISO 20022-formats and JSON-formats are exchanged and processed using the existing internal workflow. For authorization, users can work with the existing familiar signature method.

The XS2A Connector module consists of two components:

The Service Catalogue

Documented service catalog with REST APIs for external use

The Authentication Server

Third-party authentication with qualified certificates
Documented service catalog with REST APIs for external use

The Service Catalogue

The Service Catalogue consists of REST-APIs for external use. This service catalogue is documented and publicly available.

Third-party authentication with qualified certificates

The Authentication Server

The Authentication Server handles the authentication in the third-party scenario. Each Third Party Provider owns a qualified certificate as defined in the PSD2 requirements. The Omikron Authentication Server is responsible for the identification of third parties based on the established Public-Key-Infrastructure with qualified certificates. These certificates will be issued to registered third parties by approved certificate authorities. The Omikron Authentication Server verifies the validity of the certificates.

We have enhanced the internet banking application with an integrated Consent Management. For Secure Customer Authentication, your bank can use the same authentication/authorization procedures as used for internet banking.

David Reyes Castañeda | Product Manager | Omikron Systemhaus

Your Benefits with the XS2A Connector at a glance

Additional client channel

Creation of an additional client input channel for the omni-channel MultiCash Communication Platform for central administration of master data, transaction data and approval rules for all channels

Your Benefits with the XS2A Connector at a glance

Paves the way for Open Banking

An especially smooth launch of Open Banking if you are already using Omikron platform: the existing workflows and internal interfaces can remain in place

Your Benefits with the XS2A Connector at a glance

User-friendly solution

Consistent user experience for authentication and authorization by using the same methods and devices as for online banking.

Your Benefits with the XS2A Connector at a glance

Smooth integration

Easy and smooth integration of the XS2A connector by eliminating the need to implement and operate an additional application.

Request white paper on PSD2 and Instant Payments

White Paper: MASTERING PSD2 AND INSTANT PAYMENTS

Learn more about implementing an integrated Open Banking interface, complying with the Access to Accounts (XS2A) requirement of the PSD2 Directive in our White Paper.