Open Finance

As many fintech companies originate in the Cloud, the Beeks on-demand model allows customers to enjoy huge economies of scale and leading-edge technology under an OpEx-based pricing model.

Customers can then experience the benefits of these new and evolving ecosystems by connecting to Cloud Service Providers, peers, customers and content providers in a safe and secure environment, reducing consumer concerns around the security and privacy of sensitive financial data.

There are a number of ways in which customers can embrace open finance security measures that will help prevent breaches and improve visibility over your infrastructure. Private connectivity provides a much stronger security stack against DDoS attacks coupled with high availability at a similar level of cost to the use of connectivity over the public internet. These private connections also reduce the risk of transaction timeouts, provide increased monitoring capabilities, and guarantee reliable and scalable bandwidth around the globe.

While at surface level, it may appear as though open finance and banking put consumer data at risk; the opposite is true. When using a resilient and scalable platform, open banking allows customers to gain access and control over their own financial information and customer data (e.g. bank accounts or consumer credit) and choose when and where they allow data sharing.

For the financial services industry, this means less risk and more control.

Choose Beeks to gain access to an Open Finance & Open Banking solution designed for financial institutions with the future in mind.