Why Open Banking and Payments?
Open Finance is being driven by the second Payment Services Directive (PSD2), a European directive designed to boost competition and the variety of financial products in the banking, credit cards, and payments space. Other new initiatives are already in motion around the world driven by a combination of market forces and regulatory authorities.
To ensure regulatory compliance, banks and financial technology (fintech) providers must connect with partners and services with a local presence and global availability, which Beeks provide from any of our 27 global locations.
With our focus on the financial market, we ensure that our products and services for any open finance initiative are in line with the regulations put in place for open banking.
The major Cloud Service Providers already have multiple points of presence in data centres around the world. By leveraging a private infrastructure, fully integrated in the Cloud, consumers and businesses are able to mitigate significant cyber risks and threats while gaining greater control over their financial data and how it is shared.
Connect with Beeks to find out how our Open Finance service for financial & capital markets can enhance and secure your business operations.
Features & Benefits
Hybrid Architecture
Flexibility and commercial agility combined with high levels of security for modern financial firms requiring versatility and reliability.
Performance
Dedicated bandwidth and infrastructure provide improved application performance and uptime compared to public cloud internet speeds.
Security
Sensitive financial data is saved and managed on dedicated, secure environments reducing compliance and regulatory risk.
Together, Beeks Financial Cloud and Equinix offer low latency compute and connectivity options for financial market participants, enabling global same day, consumption-based, Infrastructure-as-a-Service (IaaS) deployment.
Download Joint Solution Brief
Beeks Open Banking for Financial Services
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.
Why Beeks?
Beeks Group provides banks, financial services and third-party providers with efficient and scalable on-demand cloud solutions that allow businesses to experience the benefits and potential of open finance & open banking.
By combining public cloud service providers with private infrastructure for a true hybrid architecture, consumers can mitigate significant cyber threats or risks against sensitive financial data and increase system performance.
As many Fintech companies originate in the Cloud, the Beeks on-demand model allows workloads to be placed on private or public infrastructure depending on the requirement.
Working in this way allows customers to enjoy huge economies of scale and agility built on leading-edge technology using an OpEx-based pricing model in the same way as public clouds offer today.
For open banking and open finance that gives businesses and consumers in the industry greater access to financial products and services and a safe platform that enables users to share data without delay, choose Open Finance for financial services from Beeks.
Talk to our experts today to find out what Beeks can do for you.
