ForgeRock to provide reference bank application to Open Banking
ForgeRock, a provider of digital identity management solutions, has been selected by the Open Banking Implementation Entity (OBIE) to provide a reference bank application.
The cloud-based solution will be developed, hosted and managed by ForgeRock. It will be used by banks and third parties to build their own applications in accordance with open banking standards.
ForgeRock says it “becomes a key enabler in making open banking a reality”.
The application “will drive the demonstration and testing of the Open Banking API ecosystem, much more than just a simple front-end,” it states.
Built to API specifications, the ForgeRock Reference Bank Application provides the agreed standard for testing the functionality of account information service providers (AISPs) and payment initiation service providers (PISPs).
The API specifications are now in the public domain and third-party providers are registering with Open Banking, so once their applications and endpoints are developed they can be used in a production environment.
