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Jordan Open Finance
Standards
API Gap Assessment.
Determine the readiness of your current API infrastructure for the Jordan Open Finance Standards.
Minimum requirements for Jordanian banks to comply with the Jordan Open Finance Standards:
Banks are required to adopt standardized APIs for key financial services, categorized into specific areas like account information and payments. These APIs adhere to pre-defined data models and may utilize webhooks for real-time data exchange. Additionally, banks are obligated to prioritize data security and implement a robust customer consent management system.
API standardization
Account Information Services (AIS), Extended Services (ES), Facilities, Products & Services (FPS), and Payment Initiation Service (PIS).
Security
Adhere to global standards for data security and protection when developing and implementing APIs.
Data Models
Adopt the data models defined within the Jordan Open Finance Standards for each service category.
Customer Consent
Establish a customer consent system for data access and sharing through Open Finance services.
Webhooks
Utilize webhooks for some services to facilitate real-time data transfer upon specific events.
API standardization
Account Information Services (AIS), Extended Services (ES), Facilities, Products & Services (FPS), and Payment Initiation Service (PIS).
Security
Adhere to global standards for data security and protection when developing and implementing APIs.
Data Models
Adopt the data models defined within the Jordan Open Finance Standards for each service category.
Customer Consent
Establish a customer consent system for data access and sharing through Open Finance services.
Webhooks
Utilize webhooks for some services to facilitate real-time data transfer upon specific events.
Brankas can help with an API infrastructure gap analysis and complete your application for the Jordan Open Finance Standards.
Brankas offers the only platform for Open Banking compliance and Banking-as-a-Service (BaaS) enablement. For cloud, on-premise, and hybrid deployments. Learn more about Open Finance Suite and our managed services below.
Hear it best from our clients.
Learn how you can accelerate your business with Open Finance.
Our vision is to empower our clients to deliver relevant and customer-centric products that positively impact the lives of customers, and we are proud to partner with a well-established open finance vendor like Brankas to help us achieve our goal.
Samer Soliman, Chief Executive Officer of Arab Financial Services (AFS)
Schedule a call with us today to start your gap assessment, or complete the form below.
Independent of the Open Finance Pilot, we can help any financial institution to prepare its API infrastructure or build BaaS offerings.
About the
Jordan Open Finance Standards
The Jordan Open Finance Standards aim to simplify and streamline the workflow models within the financial industry and help fintech startups integrate with other financial institutions using a unified set of APIs, alleviating the burden of using multiple APIs tailored to each financial institution’s requirements as they all vary in data models, structures, infrastructure and systems utilized.
About the
Jordan Open Finance Standards
The Jordan Open Finance Standards aim to simplify and streamline the workflow models within the financial industry and help fintech startups integrate with other financial institutions using a unified set of APIs, alleviating the burden of using multiple APIs tailored to each financial institution’s requirements as they all vary in data models, structures, infrastructure and systems utilized.
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