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Home > Company > Press Releases > Fiorano and Open Vector Launch Open Finance Sandbox in Mexico
Fiorano and Open Vector Launch Open Finance Sandbox in Mexico
Sandbox to Promote Financial Inclusion and Accelerate Open Banking Adoptions
Fiorano and Open Vector Launch Open Finance Sandbox in Mexico
Sandbox to Promote Financial Inclusion and Accelerate Open Banking Adoption
February 26, 2021, London: Fiorano Software, a leading, global provider of Enterprise Integration Middleware, API Management and Banking Technology, today announced the launch of its Open Finance sandbox platform for Mexico with Open Vector, an Open Banking and Open Finance specialist. The sandbox will promote financial inclusion in Mexico while helping Financial Institutions accelerate the implementation of the Open Finance initiative.
February 26, 2021, London: Fiorano Software, a leading, global provider of Enterprise Integration Middleware, API Management and Banking Technology, today announced the launch of its Open Finance sandbox platform for Mexico with Open Vector, an Open Banking and Open Finance specialist. The sandbox will promote financial inclusion in Mexico while helping Financial Institutions accelerate the implementation of the Open Finance initiative.
"Fiorano technology is used by banks globally. As Open Banking and Open Finance become priority agendas in Mexico, we are excited to be working with Open Vector to bring Open Banking accelerators to the market."
Biju Suresh Babu, Managing Director - Banking and Financial Services, Fiorano Software
The Open Finance MX sandbox is built on state-of-the-art technology from Fiorano and is designed to work with any Core Banking (including legacy) and identity platform. The sandbox incorporates the most mature technical, security, and user experience standards globally, offering banks and financial institutions a fast and efficient way to meet Open Banking and Open Finance requirements. In the first phase, the sandbox includes functionality for ATM queries and transactional data information queries for debit accounts. In later stages, it will include APIs for querying credit products, payments, and notifications among others.
"To do our part in ensuring the continuity of the good work done in Mexico for the finance initiative, we want to start by offering this sandbox so that entities of all sizes can participate by testing their APIs in this test environment that contains all the required elements and with our technical support. It is important to remember that the open movement is centered on the consumer with the creation of new products and services, but this can only be achieved if we create the structures so that equitably all entities and associations that must comply with this regulation can participate."
Carlos Figueredo, CEO, Open Vector
About Open Vector:
Open Vector Limited is an advisory firm established in 2017 with the purpose of advising governments, financial institutions and fintechs with the key pillars needed to implement and integrate open banking/open finance. Its mission is to drive true “social and financial inclusion to the banked and primarily the unbanked”.
"Fiorano technology is used by banks globally. As Open Banking and Open Finance become priority agendas in Mexico, we are excited to be working with Open Vector to bring Open Banking accelerators to the market."
Biju Suresh Babu, Managing Director - Banking and Financial Services, Fiorano Software
The Open Finance MX sandbox is built on state-of-the-art technology from Fiorano and is designed to work with any Core Banking (including legacy) and identity platform. The sandbox incorporates the most mature technical, security, and user experience standards globally, offering banks and financial institutions a fast and efficient way to meet Open Banking and Open Finance requirements. In the first phase, the sandbox includes functionality for ATM queries and transactional data information queries for debit accounts. In later stages, it will include APIs for querying credit products, payments, and notifications among others.
"To do our part in ensuring the continuity of the good work done in Mexico for the finance initiative, we want to start by offering this sandbox so that entities of all sizes can participate by testing their APIs in this test environment that contains all the required elements and with our technical support. It is important to remember that the open movement is centered on the consumer with the creation of new products and services, but this can only be achieved if we create the structures so that equitably all entities and associations that must comply with this regulation can participate"
Carlos Figueredo, CEO, Open Vector
About Open Vector:
Open Vector Limited is an advisory firm established in 2017 with the purpose of advising governments, financial institutions and fintechs with the key pillars needed to implement and integrate open banking/open finance. Its mission is to drive true “social and financial inclusion to the banked and primarily the unbanked”.
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