The revolution in open banking has introduced competition into the banking services market, shifting control over financial information from banks to their customers. Today, banking and financial institution customers are allowed to share their banking history and personal data with third parties, such as fintech companies. Opening access to financial information enables consumers to benefit from healthy market competition and gain access to a broader range of financial solutions, including loans, investment, and savings products. As this market trend accelerates, we have developed a unique open banking solution for our clients: UPC Open Banking Hub.

The Hub is designed for all consumers of financial information, allowing them to use banking data to improve the terms and conditions they offer. It is a consistent, centralized service that enables financial institutions to obtain the necessary information through API interfaces based on the Berlin NextGen PSD2 standard, without the need to invest in integration processes required by each individual information provider. Thus, the UPC Open Banking Hub solution relieves financial institutions from the burden of complex bureaucracy and allows them to focus on developing financial services for their customers. The solution simplifies the process of consuming financial information through a single, ready-to-use interface.

Launch of the First Open Banking Platform by UPC

UPC Introduces Open Banking as a Service for Banks in Ukraine