As the financial services industry continues to transform, NJC Labs is leading the charge in developing cutting-edge solutions for the future of banking. On 15 and 16 October, NJC Labs will be exhibiting at Open Banking Expo UK & Europe in London, showcasing its powerful Open Banking and Open Finance Accelerator. This innovative tool helps financial institutions streamline integration with core banking systems and deliver secure, compliant, and high-quality banking services.
The NJC Open Banking and Finance Accelerator
NJC Labs’ Open Banking and Finance Accelerator is designed to help banks and financial institutions swiftly adopt Open Banking standards and expand into the world of Open Finance. The accelerator includes:
- Pre-built APIs based on CMA9 specifications.
- A fully functional API Portal, offering easy access for developers and third-party providers.
- Seamless integration with core banking APIs, ensuring that all customer and transaction data flows smoothly.
The accelerator is built on top of Salesforce Clouds and MuleSoft, enabling institutions to implement APIs and portals efficiently, while maintaining compliance with regulatory requirements. NJC’s use of Red Hat Keycloak for Consent Management ensures that customer data is protected, and sharing is secure.
Expanding into Open Finance: A complete view of client portfolios
While Open Banking allows customers to manage their banking data more effectively, Open Finance extends these capabilities into areas such as investments, pensions, and insurance. NJC Labs has enhanced its accelerator to support this broader scope, enabling financial institutions to provide a 360-degree view of their clients’ financial lives.
Key features of the Open Finance extension include:
- Portfolio 360: Offering clients a complete view of their assets, including accounts, investments, and insurance products from multiple institutions.
- Client onboarding: A streamlined process that leverages Open Banking APIs to bring new clients onboard quickly and efficiently.
- Portfolio aggregation: A capability that pulls together data from various financial providers, offering clients a single, unified view of their financial portfolio.
These capabilities allow institutions to go beyond Open Banking and deliver more value-added services, helping them build deeper relationships with their clients while maintaining regulatory compliance.
Real-world success: A case study from the Middle East
NJC Labs recently partnered with a leading bank in the Middle East to successfully implement an Open Banking project. This initiative allowed the bank to meet regulatory requirements and enhance its customer experience by enabling seamless access to banking data and improved system integration. The project showcases NJC’s expertise in delivering tailored Open Banking solutions that drive innovation and efficiency for financial institutions.
NJC Labs at Open Banking Expo UK & Europe: Join us to explore the future of finance
NJC Labs invites financial institutions and industry leaders to visit its booth in the Innovation Zone at Open Banking Expo UK & Europe in London, where they will demonstrate how their Open Banking and Finance Accelerator can help organisations stay ahead of the curve in a rapidly-evolving regulatory environment.
Visitors to the booth will learn how NJC’s solution integrates seamlessly with existing banking systems and explore the ways in which Open Finance can enhance their offerings. With its proven track record and forward-looking approach, NJC Labs is excited to show how financial institutions can unlock new revenue streams, increase customer satisfaction, and lead the way in innovation.
Join NJC Labs on 15-16 October to discover how the Open Banking and Finance Accelerator can help your institution thrive in the age of Open Finance.
NJC Labs is an event partner of Open Banking Expo UK and Europe, which is taking place at the Business Design Centre in London on 15-16 October. Click here to find out more about attending, exhibiting and sponsoring.
