Open Bank Project, the leading open source application programming interface (“API”) solution for banks, recently entered an agreement with soon-to-be-launched 86 400. Fully funded and backed by Cuscal, Australia’s largest independent provider of end-to-end payments solutions, 86 400 is launching an alternative to the big 4 banks in Australia. 86 400 will use Open Bank Project API definitions to standardize and harmonize its API design, enabling access to a worldwide network of over 10,000 fintech developers. “We are thrilled that 86 400 shares our vision of an Open Banking future. APIs and fintech ecosystems are a tremendous accelerator for product development and can bring so much to bank customers. It is great to see a challenger bank committing to this path and we are excited to see them adopt Open Bank Project definitions,” Open Bank Project CEO Simon Redfern stated in the news release.
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About Open Bank Project
Led by Berlin-based software company TESOBE, the Open Bank Project is the leading open-source API solution for banks, enabling financial institutions to securely and rapidly enhance their digital offerings. The Open Bank Project assists banks in deployment of open banking platforms by providing access to more than 180 standardised APIs, used by over 10,000 developers worldwide. For more information, visit the company’s website at www.OpenBankProject.com.
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