MIAMI--(BUSINESS WIRE)--Sensedia is pleased to be selected as an API Specialist in Altitude Consulting’s whitepaper, Guide to the Best Open Finance Platforms. The global leader in delivering API solutions was praised for its expertise in API management and integration solutions and for proactively embracing and promoting open banking and open finance.
This research informs financial institution business and technology leaders of the available options to help them select the right platform partners for their organizations to comply with open finance regulations, including CFPB’s Section 1033. The whitepaper evaluates 17 global open banking and open finance platforms and focuses on functional, technical, compliance and strategic capabilities they provide to financial institutions.
Altitude’s API Specialist category represents:
- Strong support for data out, enabling compliance in one or more global standards (i.e., ease to adapt compliance standards)
- Strong support for use cases out of the box and API capabilities that allow extending the platform for additional use cases (i.e., increased integration and scalability)
The whitepaper shares Sensedia’s platform and track record as strengths. Since open finance and open insurance solutions are built on a strong API platform, Sensedia’s solution is best suited for organizations looking to manage their own open finance API programs. With over a decade of experience, Sensedia has established a robust track record of successful projects and client satisfaction from an impressive roster of clients, including some of the most prestigious names in banking, retail, and telecommunications.
“Receiving recognition from Altitude Consulting for demonstrating a clear, strategic commitment to innovation in financial services is especially meaningful as open finance gains momentum globally and the United States begins to accelerate its efforts,” said Lisa Arthur, U.S. Managing Director. “The possibilities are incredible.”
Sensedia has numerous case studies from its clients, such as Unicred, Sicredi, Banco Topazio, and many more in Credit Union Service Organizations (CUSOs), credit unions, banking and other sectors that have harnessed API strategies and consumer data insights to launch personalized products and services, driving significant ROI increases and meaningful customer growth.
“Open finance is moving the industry beyond outdated screen scraping towards secure, standardized API connections - now the preferred way to exchange sensitive client data,” said Reuben Piryatinsky, Altitude Consulting’s CEO. “Understanding the open finance platforms landscape is essential for financial institutions to make informed decisions to meet regulatory compliance requirements, including CFPB’s Section 1033. Sensedia has rightfully earned its place as an API Specialist. The company has empowered an impressive list of financial institutions to leverage open banking for compliance, enhanced data access, security, and transparency. Through their investments in technology, these institutions have unlocked new opportunities to innovate, deliver value, and generate additional revenue streams.”
The whitepaper also recognizes Sensedia’s platform and Open Finance offering. The platform contains a full-featured API management suite that includes pre-built connectors with core banking platforms, analytics, monitoring, security, authentication, an event hub, an admin portal and a service mesh to manage the entire ecosystem of microservices. It also offers developer portal capability. Sensedia’s Open Finance is an add-on supporting FDX, Open Finance Brasil and Open Banking Colombia standards and contains a dynamic consent engine designed to meet regulatory requirements for each region served.
“We agree with Altitude Consulting that financial institutions have three pathways to implement an open finance platform: build a custom solution, partner with an established platform, or leverage a core banking solution’s APIs. Building your own platform offers maximum control but demands significant financial and human capital. In contrast, using a core banking provider’s APIs accelerates compliance and time to market with lower upfront investment, but it greatly limits control over capabilities, customization, monetization, and use cases,” said Arthur. “Partnering with an open finance platform like Sensedia’s strikes the ideal balance—reducing complexity and risk while speeding time to market. It also leverages our expertise, proven compliance, and extensive use cases to drive innovation and growth.”
This announcement follows Sensedia’s momentum of recently announcing a partnership with credit union consulting leader Mitchell, Stankovic & Associates to accelerate credit unions’ open banking capabilities, and launching its Fintech API Accelerator Platform, an agile, adaptive embedded finance API and integration solution, allowing fintechs to rapidly scale their ecosystem strategy and incorporate AI products and open banking/finance readiness into their services to drive revenue growth.
About Sensedia
Sensedia simplifies enterprise architecture and integrations to improve business efficiency and flexibility. Sensedia’s solutions go beyond API management, working in partnership to help customers do more, faster and better with APIs, microservices and their architecture. Whether leveraging legacy systems for open innovation within a modern platform, unlocking data with agile architecture, creating new customer digital experiences or expanding business models and partner ecosystems, Sensedia empowers its clients’ businesses to become more adaptable, composable and connected. More at www.sensedia.com.
About Altitude Consulting
Altitude Consulting is North America’s premier open finance advisory and implementation partner. Altitude’s team has extensive experience in open finance strategy, compliance, product development, and technology. In the US, Altitude helps financial institutions meet Section 1033 compliance requirements and differentiate through a structured approach and partnerships across the industry. Altitude works collaboratively with stakeholders to support clients’ objectives, facilitate measurable outcomes, and gain a competitive edge. Learn more at achievealtitude.com.
