Worldline recognized as ’Best Open Banking Provider’ for its Digital Banking Platform at the PayTech Awards 2019
Worldline [Euronext: WLN], the European market leader in payment and transaction services, has received the ’Best Open Banking Solution Provider’ award from Ovum – the market-leading data, research and consulting expert - during the PayTech Awards 2019. We received the award in the category ‘Ovum Payment Innovation Awards’.
The PayTech Awards recognize excellence and innovation in the use of IT in the finance and payment industry worldwide. This award is a clear recognition of the market value of our WL Digital Banking Platform solution, which helps banks to seize the opportunities coming along with Open Banking and enables them to benefit from various new complementary digital and transactional services.
Seizing the opportunities arising from PSD2 and Open Banking
In a post-PSD2 era, any player in the financial industry may seek opportunities to reap the benefits of Open Banking in order to generate additional revenue streams by delivering a compelling value proposition. Those institutions that are able to turn the new challenges and requirements to their advantage will be able to capitalize on the tremendous business opportunities, by opening up with APIs.
As platform models are not an obvious fit for all-sized financial institutions, we aim to help small and medium banks to reinvent their businesses beyond basic transactional services. This applies to banks aiming to position themselves either as service providers or as external services aggregators – or both.
Capitalizing on our strong PSD2 expertise, financial institutions of all sizes can rely on Worldline and equensWorldline to seize the opportunities coming along with Open Banking. Our Digital Banking Platform covers a comprehensive ecosystem including consent management, TPP identification, community support, etcetera.
Developed and deployed since 2011 by equensWorldline, the WL Digital Banking Platform has been historically designed in close cooperation with banks – thus guaranteeing data privacy and network security. It currently processes more than 150 million API calls per month and is designed to process several billions per month, meaning it’s fully geared to handle the increasing PSD2 flow.
Supporting clients beyond compliance
As a leading pan-European payment services provider, we not only help our clients to make the most of the opportunities arising from PSD2, but we also support them in the challenge to become PSD2 compliant. Within the last 18 months, Worldline and equensWorldline have already equipped more than 25 European banks in 5 countries with a PSD2-compliance module to help them master the regulatory challenges coming along with PSD2 and RTS “Access to Account” requirements (read press release).