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“PSD2 will make the regulator happy, but not automatically your customer” Alex Malyshev, CEO of an European software FinTech vendor reveals the strategic options of partnering with banks over the course of PSD2 implementation. Alex Malyshev, CEO of urges banks to think beyond the scope of PSD2 requirements and focus on customer’s needs.

“PSD2 will not turn banks into a digital era bank. Banks should definitely think how to generate value in the open banking era. And the answer is trivial yet still beyond bank’s comprehension. The customer is King more than ever before and serious steps should be taken to win customer’s heart back amid the tough competition from Tech Giants and FinTech startups. Our goal is to help banks implement those steps and secure them leadership in the course of the digital transformation”. offers banks three partnership options which imply the following roles:

  • Banking API provider
  • API aggregator
  • API app store acting as an API  provider enables banks to quickly and securely create innovative products. The components of solution delivered via API include:

  • Invoicing
  • Mass payments
  • P2P money transfer
  • Loyalty / Rewards
  • Escrow
  • Cashback
  • Dispute resolution services (Chargeback & Refund)
  • Recurring payments
  • Currency Exchange
  • Gift cards / prepaid cards

API aggregation option allows banks to assemble multiple APIs at one point. But that would not be the whole story. The true value of open APIs lies in the creation of the new ecosystem of partnerships between banks and third party providers. app store unleashes those opportunities which can enhance customer loyalty and open new revenue sources for both banks and third party providers. Customer-centricity, innovation, and speed become critically important, which means it is high time for banks to act. offers digital banking software solution (100 APIs) that links the functionality of the core systems with upscale FinTech tools. The state-of-the art solution enables banks & financial institutions to stay agile and secure the strong positions amid rapid digitization. The solution integrates seamlessly into existing infrastructure and enables banks to reduce costs 10 times, increase speed to market & and efficiency. It enables developers of banks and other financial institutions to operate with Client Profiles management, Business process management, Accounts, E-wallets, Invoices, Payments, Recurring payments, P2P money transfers, Prepaid & Mass Payments. A number of back-offices for different business actors like CFO, Compliance & Anti-fraud are available from the box.

Written by Alex Malyshev on Apr, 18, 2017