WSO2 Open Banking provides the complete technology stack for a hassle-free PSD2 compliance. This guide gives you a quick walk-through to the WSO2 Open Banking using the following sample scenario.
Sample scenario
In order to comply with the PSD2 directive, the ABC Bank wishes to expose its customers' account and transaction data to third-parties via APIs upon receiving the consent from authenticated customers. Account Information Service Provider (AISPs) and Payment Initiation Service Providers (PISPs) are two types of third-parties that utilize these account and transaction data. AccPro is an AISP that subscribes to the ABC Bank's APIs to provide an aggregated view of customers' account and transaction details. TransacPro is a PISP that subscribes to the ABC Bank's APIs to initiate credit transfers on behalf of the ABC Bank's customers.
Let's see how AISPs and PISPs interact with WSO2 Open Banking.
Before you begin
Make sure you have the following ready:
A wso2.com user account. If you do not have a WSO2 account yet,
- Go to https://wso2.com/user/register.
Enter the required information.
Provide a valid phone number with the country code to complete the two-factor authentication (e.g.,
+44xxxxxxxxxx for a UK phone number).- Click Register.
- Validate your account details by accessing the one-time login URL that you received via email.
cURL: You need cURL on your machine so that you can make API calls using the command line.
A web browser: You need a web browser to work with the customer consent approval process.
Let's get started!