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Payments General

ForgeRock achieves open banking compliance certification

Wednesday 1 May 2019 | 10:22 AM CET

US-based digital identity management solutions provider ForgeRock has announced it has achieved conformance with the OpenID Foundation’s FAPI standard.

FAPI is a fully open standard designed for banks and fintechs to build open banking standards for the secure exchange of consumer financial information.

For two years, ForgeRock has worked with the Open Banking Implementation Entity (OBIE), originally in delivering a reference implementation for the UK big banks (the CMA9) to provide a Model Bank with APIs built to specification. Most recently, ForgeRock delivered a Sandbox-as-a-Service to enable agile development teams to achieve compliance with Open Banking and the Revised Payment Service Directive (PSD2).

The OpenID Foundation (OIDF) promotes, protects and nurtures the OpenID community and technologies, and supported the working group responsible for delivering the FAPI certification. The standard enables banks and fintechs to test and certify their implementations, which should accelerate development and testing, reduce support issues, and reduce costs.

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