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Pelican expands pan-European Open Banking API interoperability

pelican open banking ai

Pelican API Interoperability solution offers comprehensive and seamless API interoperability with support for the six most popular API standards.

LONDON – 27 March 2019 – Pelican (pelican.ai), a global provider of AI-powered payments and financial crime compliance solutions for banks and corporates, today announced the further extension of its API Interoperability solution, with expanded support for the six popular Open Banking API standards, now including the UK’s OBWG, France's STET and the Berlin Group, together with the Czech ČSOB, and the Polish and Slovakian APIs.

The Pelican API Interoperability solution enables Third-Party Providers (TPPs) to access PSD2 Payment Initiation and Account Information services, and to seamlessly connect to financial institutions implementing any of the popular Open Banking APIs, regardless of whether they are native TPPs, or banks wishing to operate as TPPs in an Open Banking environment.

In comparison with other more limited API ‘aggregation’ hub approaches that restrict financial institutions to using a single, and often proprietary API, the Pelican API Interoperability solution is unique in enabling organisations to adopt any of the popular PSD2-compliant APIs and to connect to all European banks, regardless of the different popular API standards the banks may be using. Pelican provides seamless and risk-free interoperability between all accepted formats, acting as a conversion ‘switch’ that harmonises the differences between various APIs. 

Pelican’s interoperability capabilities are also attractive to banks wishing to internally standardise on one single API, but with a need to offer multiple API standards to reach a wider pan-European marketplace, or for banks that have already published a specific API and wish to support various other API standards across different business lines or in different jurisdictions.

Parth Desai, founder and CEO of Pelican, commented, “With the expansion of our API interoperability support, Pelican will enable banks and TPPs to seamlessly reach 500 million potential customers across Europe through any of the popular PSD2-compliant APIs. The PelicanAPI Interoperability solution is part of the comprehensive Pelican Open BankingHub that delivers a true pan-European service, removing all the technical complexity of achieving multiple API support and connectivity to customers’ accounts. This allowsTPPs and banks to focus on delivering their core proposition to customers, whilePelican takes the pain out of connecting to multiple API standards.”

Pelican’s subsidiary company, PelicanPay(pelicanpay.com), is a regulated TPP providing additional Payment Initiation and Account Information Services solutions to SMEs, corporates and fintechs.

About Pelican
Pelican has pioneered the practical application of AI technology to enhance, streamline and secure the payments life-cycle and ensure financial crime compliance. With over twenty years of payments domain experience and AI expertise, Pelican is uniquely placed to deliver innovative and agile solutions– partnering with customers to drive consistent and sustainable growth in today’s real-time economy. To date, Pelican has enabled outstanding efficiency benefits and increased speed to market for customers in over 55 countries, processing more than one billion transactions worth over US$5 trillion. Pelican is a global company with offices in New York, London, Amsterdam, Dubai, Mumbai and Hong Kong.  

For more information, visit www.pelican.ai 

Media enquiries:
Sarah Mason
Metia Ltd
+44 (0) 20 3100 3163