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The WSO2 Open Banking Analytics component enables monitoring and recording of API-level usage activity to ensure that the API owners have full awareness of the APIs, applications, and subscriptions. It also supports business KPI dashboards with business intelligence and insights on usage trends as well as custom business insights on the account and payment flows. The decision makers of banks can use these statistics to align the business to better suit the customer needs and ultimately increase profits. The configurable alerting module enables informing the necessary parties of abnormal behaviour, e.g., API failures, a sudden increase in the response time of APIs, and a change in the API resource access pattern.
Transaction Risk
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Analysis
Transaction Risk Analysis is a method that observes the counterparties and attributes involved in a particular transaction in order to prevent, detect and block possible fraudulent behaviour. PSD2 has additional requirements for minimizing these threats of fraudulent actions that have been on the rise with the advent of new technology. To maintain the balance between user experience and Strong Customer Authentication, some additional measures have been introduced via real-time Transaction Risk Analysis and Fraud Detection during authorization. State-of-the-art identity and access management capabilities such as adaptive authentication have made this process easy by enabling the system to adapt to changing behaviours of fraud.
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