Open Banking

Home » Services » Open Banking

Effortless Integration, Built to Last, Designed for Security

Our solutions are easy to integrate, robust in every way, and secure by default—allowing you to focus on what truly matters: your customers.

In regions embracing open banking, the primary hurdles for financial institutions and fintechs are the costs and technical challenges associated with implementation.

Lorem Ipsum

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

Tink

Adorsys

Revolut

Lorem Ipsum

Step

Connect your bank accounts or business accounts securely

Step

Choose the services you want to use (e.g., payments, data aggregation)

Step

Start accessing enhanced financial features and services

Why is API Testing in Open BankingCrucial?

Quality Assurance

Quality assurance is crucial in the realm of open banking, as APIs serve as the core infrastructure for data exchange between various systems and software. A major malfunction in an API can severely impact the customer experience, potentially damaging the reputation of the banking institution.

Security & Compliance Verification:

Banks must comply with various regulations and standards, including PCI DSS (Payment Card Industry Data Security Standard) and Consumer Data Right (CDR), which mandate the protection of customer data’s security and privacy. To ensure compliance with these standards, API testing becomes essential in verifying that these requirements are met effectively.

Scalability and Performance:

Ensuring that APIs remain stable and responsive under high demand is crucial, as they need to scale effectively to accommodate growing customer needs. API testing helps identify potential performance issues and bottlenecks early, preventing them from impacting end users’ experience.

Advantages of API Testing

SPER Market Research forecasts that the global API testing market will reach USD 6.98 billion by 2032, growing at a CAGR of 20.62%. This growth highlights the widespread adoption of API testing across industries, particularly in the banking sector. Here are some key benefits of API testing:

Early Detection of Bugs and Issues:

Automated API testing allows development teams to identify bugs and issues early in the development process. This proactive approach helps fix defects before they become costly or time-consuming problems.

Increased Test Coverage:

Compared to methods like GUI testing, API testing offers broader coverage by focusing on the core functionality of APIs. This ensures that all system components are tested simultaneously, providing more comprehensive validation.

Elevated Automation Testing Tools:

API testing is well-suited for automation, enabling faster and more consistent execution of tests compared to manual approaches. Automation reduces human error, allows frequent testing, and accelerates the development cycle.

Enhanced Scalability:

Since APIs are built for scalability, testing ensures they can perform optimally under various loads. This guarantees that software applications can handle fluctuations in traffic and user demand.

Improved Security:

API testing plays a crucial role in enhancing application security by identifying vulnerabilities, such as injection attacks and cross-site scripting. By addressing these issues early, teams can prevent potential security breaches.

Cost Efficiency:

API testing helps reduce development costs by identifying issues early, preventing expensive fixes later. This proactive approach minimizes downtime, system failures, and potential reputational damage.

Some API Testing Types in Open Banking

In open banking, various types of data, including customer details, deposit and loan information, transaction records, and real-time batch process data, are accessed through interfaces. To ensure system stability, it's crucial to input a large volume of random data to test for potential crashes or negative behaviors.

Load testing is vital for identifying system limits and ensuring the reliability, scalability, and performance of open banking. It focuses on response time, scalability, downtime, and costs under normal and peak conditions.

Key scenarios include:

Baseline Test: Assesses performance under typical traffic.
Theoretical Maximum Traffic: Tests performance during peak loads.
Overload Test: Pushes the system beyond its capacity to test limits.

Authentication and authorization are critical in banking APIs. Testers must verify that multi-factor authentication is enforced before allowing APIs to perform specific functions.

Security testing also includes validating encryption methods, assessing API access control designs, managing user rights, and ensuring proper authorization.

Open Banking

Effortless Integration, Built to Last, Designed for Security

Our solutions are easy to integrate, robust in every way, and secure by default—allowing you to focus on what truly matters: your customers.

In regions embracing open banking, the primary hurdles for financial institutions and fintechs are the costs and technical challenges associated with implementation.

Lorem Ipsum

Tink

Adorsys

Revolut

Lorem Ipsum

Lorem Ipsum

Lorem Ipsum

Step

Step

Step

Step

Why is API Testing in Open BankingCrucial?

Quality Assurance

Quality assurance is crucial in the realm of open banking, as APIs serve as the core infrastructure for data exchange between various systems and software. A major malfunction in an API can severely impact the customer experience, potentially damaging the reputation of the banking institution.

Security & Compliance Verification:

Scalability and Performance:

Ensuring that APIs remain stable and responsive under high demand is crucial, as they need to scale effectively to accommodate growing customer needs. API testing helps identify potential performance issues and bottlenecks early, preventing them from impacting end users’ experience.

Advantages of API Testing

SPER Market Research forecasts that the global API testing market will reach USD 6.98 billion by 2032, growing at a CAGR of 20.62%. This growth highlights the widespread adoption of API testing across industries, particularly in the banking sector. Here are some key benefits of API testing:

Early Detection of Bugs and Issues:

Increased Test Coverage:

Elevated Automation Testing Tools:

Enhanced Scalability:

Improved Security:

Cost Efficiency:

Some API Testing Types in Open Banking

Load testing is vital for identifying system limits and ensuring the reliability, scalability, and performance of open banking. It focuses on response time, scalability, downtime, and costs under normal and peak conditions.

Authentication and authorization are critical in banking APIs. Testers must verify that multi-factor authentication is enforced before allowing APIs to perform specific functions.

Security testing also includes validating encryption methods, assessing API access control designs, managing user rights, and ensuring proper authorization.

Key Benefits of Our Open BankingSolutions

Seamless Integration

Enhanced Customer Insights

Lower Transaction Costs

Better Financial Management

Robust Security & Compliance

Real-Time Payments

Unlock Innovation

Let’s Discuss a Project Together

Quick Links

Contacts

Subscribe to newsletter