Ozone API works with cloud consultancy to enable US FIs to adopt Open Banking
Ellie Duncan | News
05 Mar 2025
US-based cloud consultancy Bespin Global has teamed up with standards-based open API platform Ozone API to offer an end-to-end Open Banking solution to US financial institutions, at a critical juncture for Open Banking in the country.
The new partnership will enable financial institutions to comply with the recent Section 1033 rulemaking under the Dodd-Frank Act with “minimal operational burden”.
Through the partnership, Bespin Global, which specialises in migrating large data sets to platforms, will analyse the current state of data architecture and quality, modernise and migrate systems to cloud platforms as needed, and ensure that the required data is secure and accessible for third-party interfaces.
After which, it will oversee the onboarding of Ozone API’s platform, conduct “rigorous” testing, and support the customer in going live with their new Open Banking system.
Ozone API provides banks and financial institutions with the technology necessary to publish Open Banking APIs at pace, while its open API platform supports all global standards.
According to Bespin Global and Ozone API, those institutions that are early adopters of Open Banking stand to gain a competitive advantage by positioning themselves to monetise Open Banking capabilities and to “leverage the rich data sets that emerge”.
“In the 2010s, we saw a sea change in healthcare technology due to HIPAA regulations,” said Steven Zeller, head of product strategy for Bespin Global US.
“Now, Dodd-Frank is driving similar disruption in financial services. Banks of all sizes must break down data silos, modernize their systems, and prepare for globally distributed data exchanges.”
He added that working with Ozone API positions Bespin Global at the forefront of “this new wave of transformation”.
Eyal Sivan, general manager, North America at Ozone API
Eyal Sivan, general manager North America at Ozone API, said: “Our partnership with Bespin Global allows us to provide a scalable consulting and delivery team, leveraging thousands of certified cloud and data experts worldwide.
“We can now assist banks of any size in the US, regardless of where they are on their journey to Open Banking adoption, as we have already done across Europe, the Middle East and Asia.”
Sivan was recently appointed to the board of Financial Data Exchange, as chair of the Small Data Provider Council, to help drive standard-setting efforts.
Ozone API is an event partner of Open Banking Expo USA, which debuts in New York on June 26, 2025. Find out more about the agenda, speakers, exhibitors and partners, and register to attend here.
