Open Banking Development Services
We design a PSD2-compliant open banking platform that enables banks, fintechs, and third-party providers to securely share financial data, process automated payments, and deliver data-driven products. This fundamentally changes the way businesses and people interact with their finances.
Our open banking development services span the entire product lifecycle. This includes API design and PSD2 compliance, TPP integrations, consent management frameworks, and post-launch support. If you’re a bank developing a compliant open banking API layer, a fintech developing consumer-facing products based on data, or a business developing account information services or payment initiation on your platform, we can help.
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Overview
What is Open Banking?
Open banking is a regulatory and technology framework that enables banks and financial institutions to securely share customer financial data and payment capabilities with authorised third-party providers through standardised APIs.
DotVerse specializes in developing open banking platforms that are at the heart of the ecosystem. Whether you’re a bank developing a compliant, fast API layer to meet regulatory requirements, a fintech company using open banking data for credit checks or personal finance apps, or a large business developing account-to-account payment initiation for its checkout, we design and build the infrastructure that makes it happen.
Why Partner With Us
How Open Banking Will Benefit Your Business
Open banking can change how your business handles credit decisions, processes payments, and generates revenue. Here's a look at what it actually delivers — for you and for the people you serve.
Unlock New Revenue Streams
With open banking, businesses now have opportunities that were not previously possible in a traditional banking system. With open banking APIs, companies can now develop new financial products, such as credit and lending features, as well as personal finance management features.
Superior Customer Experiences
When customers connect their bank accounts to your platform, you gain a real-time view of their financial behaviour. This allows you to deliver genuinely personalised experiences, proactive alerts, tailored product recommendations, automated savings features, and financial insights that generic financial products simply cannot match.
Faster, Lower-Cost Payments
The payment initiation service enables a business to initiate direct transfers from banks without using card networks. The advantages of using payment initiation services include lower transaction fees, elimination of chargeback risk, and instant settlement. It is beneficial for high-volume online stores, marketplaces, and B2B payment providers.
The Process
Our Open Banking Development Process
A clear, structured process — from your first brief through to a live, compliant open banking product your customers can actually use.
Discovery & Scoping
First, we identify what you are creating, for whom, and which regulatory guidelines are applicable to your space. These considerations inform every decision from here on out, so there’s no retroactive fixing.
API Integration & Bank Connectivity
We connect your platform with the best open banking APIs available: UK’s Open Banking Standard, Berlin Group’s NextGenPSD2, STET, or others depending on your location. We take care of authentication, access tokens, and other nasty details that might catch you or other less experienced developers out.
Data Normalisation Layer
The data formats received from the Bank APIs vary. We design a data normalisation layer to normalise everything into a clean format with consistency, introducing transaction enrichment, merchant identification, and classification right from the start.
Core Product Development
If data is flowing cleanly and reliably, we can develop product logic to help with things like credit decisioning, affordability, cash flow analysis, payment initiation, or anything else your business might require.
Front End & UX Design
We design and implement a front end that our customers interact with, as well as the API. This could be a standalone application, a business dashboard, or a widget. Our goal is to make sure that it works well from a technical perspective as well as from a usability perspective for real end-users.
Consent Management & Compliance Infrastructure
We build a consent management module that monitors all consents, including their scope, period, renewals, and revocations, and creates audit trails for FCA reporting, PSD2, and internal governance
TheDotVerse Advantage
Shaping the Future with Open Banking Solutions
Our platforms empower banks, fintechs, and enterprises to build the next generation of financial products on a foundation of real customer data and instant payment capability.
Regulatory Compliance by Design
Open banking is one of the most heavily regulated areas of fintech. We embed PSD2, UK Open Banking Standard, GDPR, and SCA (Strong Customer Authentication) requirements directly into the platform architecture so compliance is never an afterthought, and your product is audit-ready before it goes live.
API-First Architecture
Every open banking platform we build is API-first by design. This means your product can integrate with any bank, any third-party service, and any future open finance standard without requiring a platform rebuild giving you the flexibility to expand coverage and add new data sources as your business grows.
Multi-Bank Aggregation
Customers rarely use a single bank. Our platforms support connection to hundreds of financial institutions simultaneously, aggregating data from current accounts, savings accounts, credit cards, and investment portfolios into a single, unified view. This multi-bank aggregation capability is foundational for personal financial management, credit assessment, and cash flow analysis products.
Strong Customer Authentication (SCA)
SCA is a mandatory security requirement under PSD2, requiring multi-factor authentication for payment initiation and sensitive data access. We build SCA-compliant flows that balance regulatory requirements with the smoothest possible customer experience minimising friction without compromising security standards.
Real-Time Transaction Data
Unlike batch-processed bank statements, open banking APIs provide near-real-time access to transaction data. Our platforms are engineered to handle continuous data streams, enabling products that react to financial events as they happen from instant spending notifications to real-time cash flow alerts for business customers.
Scalable Infrastructure
Open banking platforms must handle API calls from thousands of concurrent users, across dozens of bank connections, with sub-second response times. Our cloud-native, microservices architecture scales horizontally with transaction volumes ensuring performance is maintained as your user base grows from launch to enterprise scale.
Data Security & Privacy
Financial data is among the most sensitive personal information in existence. We implement end-to-end encryption, tokenised data storage, role-based access controls, and real-time security monitoring alongside full GDPR compliance for data minimisation, purpose limitation, and the right to erasure.
Extensibility to Open Finance
Open banking is the foundation, but open finance extending data sharing to pensions, insurance, investments, and mortgages is the direction of travel. We build platforms that are architecturally ready for open finance expansion, so your investment today supports the product opportunities of tomorrow.
Industry Impact
The Role of Open Banking in Financial Services
Open banking is not simply a regulatory obligation, it is the infrastructure layer that enables a new generation of financial products and the deeper, more transparent relationships between financial institutions and their customers.
Transforming Credit Decisioning
Real-time access to a borrower’s actual account transactions gives lenders a far more accurate picture of financial behaviour than a credit score alone. Open banking-powered affordability assessments reduce default rates, expand credit access to underserved borrowers, and enable lending decisions in minutes rather than days.
Enabling Account-to-Account Payments
Payment initiation services allow businesses to accept payments directly from a customer’s bank account without a card network intermediary. The result is lower transaction fees, instant settlement, no chargebacks, and a frictionless checkout experience particularly valuable for subscription businesses, utility providers, and high-value e-commerce.
Powering Personal Financial Management
When customers connect their bank accounts, they unlock a complete, real-time view of their financial life. Open banking-powered PFM tools can automatically categorise spending, track budgets, project cash flows, identify subscriptions, and provide proactive financial guidance capabilities that have historically been available only to the most engaged banking customers.
Accelerating Financial Inclusion
Open banking creates pathways to financial services for customers who are poorly served by traditional credit infrastructure, people with thin credit files, gig economy workers with variable incomes, and individuals who have historically been excluded from lending products. Real account data provides a more complete and equitable basis for financial decisions.
Client Voices
Hear From the People We've Worked With
"The robo-advisory platform TheDotVerse built for us has completely transformed how we serve retail clients. Onboarding is seamless, the risk profiling is genuinely intelligent, and our team can now manage ten times the AUM with the same headcount."
"We needed a compliant, scalable investment platform that could handle both guided and self-directed portfolios. TheDotVerse delivered exactly that — on time and within scope. The automated rebalancing engine alone has saved us significant operational overhead."
"From the discovery session through to launch, the team at TheDotVerse showed deep knowledge of investment compliance and product design. The regulatory framework they built around our platform gave us full confidence going live with FCA registration."
Got Questions?
Frequently Asked Questions about
Open Banking Development Services
Everything you need to know before starting your open banking platform project.
Start Your Project
Let's Build Your Open Banking Platform
Whether you’re launching a new data-driven financial product, building a PSD2-compliant API layer for your bank, or embedding account information and payment initiation capabilities into an existing platform, our specialist fintech development team is ready to help you deliver it from the first line of code to go-live.