Open banking is a secure and structured exchange of financial data between banks, fintech companies and users of financial services, through specialized interfaces (APIs), with the consent of the client.
Benefits for clients:
- open banking provides the opportunity to effectively manage their finances;
- information on the movement of funds and balances on accounts opened in different financial institutions is consolidated in one application;
- no need to switch between applications to obtain information
- only the client decides which services to transfer your data to, and can change or revoke consent at any time.
- encryption technologies and API interfaces meet the highest requirements of the regulator.
Roles in open banking:
- user – an individual or legal entity that has opened accounts with an account servicing payment service provider (ASPSP) and intends to receive a non-financial payment service;
- account servicing payment service provider (ASPSP) – banks and other payment service providers with which the user has an account;
- third-party payment service providers (PISP, AISP):
- AISP (Account Information Service Provider) – a payment service provider providing account information;
- PISP (Payment Initiation Service Provider) – a payment service provider initiating a payment transaction;
- payment services technology operator - a legal entity that has the right to provide services for the performance of operational, information and other technological functions within the framework of open banking.
How it works:
- The client provides consent to access their accounts in the application of another bank/financial company authorized by the NBU and confirms the consent in the PRAVEX ONLINE application
- PRAVEX BANK transfers data via specialized APIs only to those companies that have the appropriate NBU certification and only with the client's consent.
- The client can at any time review the list of granted consents and revoke them if necessary, using the PRAVEX ONLINE mobile application menu
Available services:
• Providing information on the amount of available funds on the client's account (balance);
• Providing information on the history of transactions on the client's account (for a period not exceeding 31 calendar days from the current date of the request);
• Initiating a payment in hryvnia from the client's account.
We invite you to partner with PRAVEX BANK within the framework of open banking to create modern services that improve the financial experience of users, to do this, register on the UPC portal (PJSC "Ukrainian Processing Center" - the technological operator of JSC "PRAVEX BANK") https://portal.api.upc.ua/
If you already have TPP certification or are in the process of obtaining it, get all the necessary information on our developer portal. For operational technical support, contact details are available: itdepartment@pravex.ua Client requests on open banking services are sent via PRAVEX ONLINE.
