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Payments General

WSO2 and Allevo to provide Open Banking solutions to Romanian FIs

Wednesday 4 September 2019 | 11:09 AM CET

Open source integration vendor WSO2 has announced that Romania-based financial software provider Allevo is now a WSO2 Consultative Integration Partner.

As the supplier states, Allevo will join forces with WSO2 for developing the design and delivery of customized Open Banking solutions aimed at the banks and the third party financial services provider in Romania. The partnership aims to increase compliance, automation, and integration.

The collaboration will see the two companies, implementing WSO2 Open Banking solution at one of the Romanian commercial banks in a bid to enable PSD2 compliance for the bank along with the ability to centrally manage requests from third-party providers on behalf of their customers and send proxy responses. The partnership is expected to enable Allevo to provide its clients with software services coupled with WSO2’s products and services.

Established in 1998, Allevo provides software solutions to financial institutions, small and medium enterprises, and public administrations to assist them in processing financial transactions and comply with the latest standards and regulations.

Recently, WSO2 released the latest of WSO2 Open Banking for achieving PSD2 RTS compliance with the inclusion of new security features such as support for electronic identifications, strong customer authentication (SCA) as well as rule-based fraud detection and monitoring of fraudulent transactions.

More: Link
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