The company UPC is introducing the OpenBanking service (OpenBanking-As-a-Service) - a structured and secure data exchange between payment service providers and a technological payment service operator through open APIs.

Adopting the OpenBanking solution as a service will allow a bank to:

- Meet all mandatory NBU requirements for the implementation of OpenAPI in accordance with the Payment Services Act in a timely manner;
- Avoid spending their own IT resources on implementing the solution within their own infrastructure;
- Avoid costs based on the number of requests to OpenAPI and initial costs;
- Receive reliable support for this service from a company with over 20 years of experience in payment technologies.

By obtaining this service from UPC, the bank will receive its own web portal with clear documentation, support service for payment service providers, reporting modules, and invoicing for service usage.

As the service provider, UPC will perform the following functions:

- Support regulatory APIs according to current requirements;
- Support commercial APIs, including those for UPC services;
- Provide a sandbox and support for payment service providers;
- Manage company and user consent.

The pilot launch is planned for the second quarter of 2025, with the industrial launch in August 2025, following the entry into force of the Payment Services Act. The solution will be available both to UPC clients and to clients of other confessions.

“The decision to launch the OpenBanking as a Service (SaaS) platform will enable our clients to obtain innovative payment technology and meet the requirements of the Act on time without incurring significant initial costs for implementing their own solution. This, in turn, will allow banks to conserve their own resources, specifically IT resources, for improving their own banking products and to receive OpenAPI service support from a company with years of experience in transaction service support,” said Anton Kostornichenko, Head of Sales at UPC.