“Open Banking is about making everything for sale. It provides a new way to increase digital revenue for the banks that are willing to think differently...Open Banks and FinTech's will continue to erode margins and customer relationships for those banks that don’t.”
Financial services will be delivered through third parties using open source technology (APIs for example) that are integrated into traditional banking infrastructure
It’s not only a regulatory compliance and technology challenge, but also a strategic and operation one. Meeting the challenge requires a clear strategy, operations and infrastructure change, a clear focus on assessing and managing risks and meticulous execution
Opening bank’s payment and account information dramatically shift the competitive landscape. Direct engagement with customers no longer an advantage for the banks but to be shared with FinTech's, Technology Firms, Retailers and Telecommunication Providers
High Level Snapshot Overview
Our Offering
PSD2 Technical Landscape & Our Product Feature and Offering Presentation
Annual Recurring Licence Cost - SAAS (Software as Subscription) Model | ||
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1 | API Gateway and Management Layer Integration (30 plus end points) plus TPP Onboarding Platform. This will be constantly upgraded as more RTS version release | On Request |
2 | Sandbox to test Bank’s Test Environment on accessing API’s by TPP. This is part of the March 2019 FCA Compliance requirement and ongoing integration with future RTS versions. | On Request |
3 | Developer Portal along with API Kit for TPP’s to Test and Integrate with Bank’s API Gateway. | On Request |
4 | Consent Authorisation and Management Secure Portal, FCA reporting Dashboard on incident management | On Request |
5 | API – Bridge Implementation with Core Banking Solution. Require high level of engagement with CBS API End Points. | On Request |
6 | GAP Study on Bank’s ASPSP readiness including Phase-gate analysis in achieving compliance. Includes detailed project plan with stakeholder responsibility and key deliverables (12 days). | On Request |
PSD2 Project as a Turnkey Implementation (Optional) – ( Banks can opt for this option where Macro Global will take full responsibility of project execution with the satisfaction of FCA and sign off with less resource requirement from Bank.)
One-Off Cost | ||
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7 | Project Management through MACRO GLOBAL’s PMO Team (Split into 4 weeks initially and another 12 Weeks from March 2019 to August 2019 to complete the entire integration) – Senior Consulting team – UK Resources with 15 years of Payment and Regulatory experience | On Request |
8 | Mandatory Risk Assessment and remediation based on FCA-EBA guidelines SUP-98(2) – (5 weeks engagement.) – Using both onsite and offsite resources. | On Request |
9 | Consultancy for offering strategy and plan for phased integration to achieve compliance and scaling up for future business Oppurtunities as an aggregator by providing AISP & PISP services. (As required but usually takes 15 days and spread across to four quarters) | On Request |
Macro Global is the trading name of Macro Infotech Ltd. Macro Infotech Limited is having Registered Office is at 20-22 Wenlock Road, London N1 7GU and this company is registered in England & Wales and the registered number is 06477763.
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