Open Banking
Open Banking
Discover the power of Open Banking! Share your financial data securely and unlock a world of innovative financial services tailored just for you.
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Bwa Business
What is Open Banking?
Open banking is a new banking practice that enables customers of financial institutions to share their financial data securely with third-party financial service providers, typically through the use of application programming interfaces (APIs), which in turn provide new and innovative financial services and products for customers.
Open Banking Services
E-statement as a Service
Go Paperless, Go Efficient:
E-statements Tailored for Your Business
Through the new eStatement service you can stop receiving paper bank account statements from your costumers. Bwa E-statement allow you to connect to your customer bank accounts and enhance the customer journey for your services.
- Enhancing the digital customer experience and journey
- Higher conversion rates for your business and your services
- Leverage e-statement data to offer depth personalized financial products and services to your customer
- Helps in error free submission, removes the hassle of physical copies
Letter of Guarantee as a Service
Digitize Your Trust with Our Letter of Guarantee Service Fast, Transparent LG at Your Fingertips
This Digital service enable you to digitally issue a Letter of Guarantee through open banking and make it available to the beneficiary.
- Streamline and digitizing LGs process lifecycle
- Minimize the risk of disputes and fraud for all parties involved through complete transparency at every step
- Eliminate cost associated with printing, issuing, exchanging, storing and retrieving physical LG Documents
- Simplify your banking experience using one interface to deal LGs processes
Analytics & Indicators
Improving the Efficiency of Financial Operations Through Data-Driven Analytics
You can utilize open banking capabilities to optimize your customers' journey and increase efficiency. Whether you are in B2B or B2C, our services can support you in:
- Designing a full digital journey based on accurate risk scoring.
- Providing customized services based on your customer's historical indicators.
- Obtaining advanced income and spending analytics to build your innovative products around them.
As a result, we enable you to understand your clients, streamline your business, and increase conversion rates with safe risk scoring assessments.
Asked Questions
1- What is Open Banking?
Open banking is a transformative practice that empowers customers of financial institutions to securely share their financial data with third-party service providers. Utilizing advanced application programming interfaces (APIs), open banking facilitates seamless data exchange, leading to the creation of innovative financial services and products tailored to meet customer needs. Embrace the future of banking with open banking, and unlock a new realm of financial possibilities.
2- What type of Services does BwaTech provide through the Open Banking?
BwaTech offers a different services through open banking APIs, such as personal and enterprise financial management, issuing letter of guarantee and customer E-statement.
3- How can you access my financial data held at my banks?
We access your financial data through secure Open Banking APIs, but only with your explicit consent. You authorize this by giving digital consent, which is fully compliant with Open Banking regulations. Once approved, your bank securely shares the necessary data, like account statements or balances, based on the permissions you provide. all data transfers are encrypted, maintaining the highest standards of security and privacy.
Would you like further assistance?
Count on our dedicated support team to assist you every step of the way.
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