Achieving CDS Compliance While Boosting Your Open Banking ROI, WSO2 Webinar
Channel: WSO2
Date: 22/05/2020

WSO2 Open Banking 1.5, our latest release, introduces full regulatory compliance for Australia’s Consumer Data Standards (CDS) v1.2. Our solution also now enables banks to publish custom APIs in addition to those mandated by regulation, accelerating digital transformation in banks using the same tech stack. With the extensibility provided by our solution, banks can secure added ROI by exposing a broad range of new capabilities via APIs. These help business teams innovate new customer solutions, collaborate more effectively with the fintech ecosystem and meet changing consumer and business needs prompted by the COVID-19 crisis faster.
https://wso2.com/solutions/financial/open-banking/
This means, the benefits from your open banking technology investment don’t need to stop at compliance alone.
In this webinar, we will present:
* An overview of how our modular architecture simplifies compliance while meeting core functional requirements of the CDS in real-world deployments covering dynamic client registration, financial grade API security (FAPI-RW), full support for consent flow and management, metadata cache management, and a broad range of operational statistical reporting.
* Reference implementations for guidance on designing an adaptable open banking framework.
* Lessons learnt from deployments in Australia and globally in the EU, the UK, the Middle East, and Southeast Asia.

0:00 Introduction
2:05 Overview of Features
4:47 Dynamic Client Registration Allows Data Recipients to register with a bank for obtaining consumer data
7:57 Consent Authorization Consent authorization process
12:35 Token Generation Obtain an access token for accessing authorized APIs
13:34 Consent Validation Validate whether data retrieval should be allowed
15:19 Transaction Security
16:30 Meta Data Validation
19:02 Metrics API
22:25 A Single-Vendor Solution
30:22 Technology Components of WSO2 OB Solution
33:23 WSO2 Open Banking in Action
36:06 Key Features
38:40 Extensible Platform
41:56 Phased Deployment Package
44:33 The Journey Towards Open Banking
48:00 Key Services