Yapily has launched a strategic partnership with Ozone API with the aim of supporting financial institutions in speeding up their adoption of Open Banking.

Under the terms of the partnership, Yapily and Ozone API will provide banks with the infrastructure to play on both sides of the Open Banking ecosystem, with the companies stating that they hope to create an ecosystem which enables financial services firms to monetise Open Banking, differentiate themselves from bigger players and stave off competition from challenger banks.

Huw Davies, co-founder and chief commercial officer at Ozone API, said: “Banks are looking to go way beyond mere compliance and build value-adding propositions and services to do more for their customers, reach new customers and build new partnerships.

“This requires delivering great APIs of their own and building awesome propositions by leveraging access to other banks - by partnering with Yapily, we can combine the best standards based API platform with the best platform to power financial applications."

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