Smart Data Foundry joins forces with Ozone API
We’re delighted to announce a new partnership with Ozone API to launch our Standards for Innovation which are designed to support and accelerate financial innovation in Open Banking.
Smart Data Foundry and Ozone API have a shared and aligned purpose to inspire financial innovation. The opportunity has never been greater to embrace Open Banking, Open Finance and ultimately Open Data to safely unlock the power of financial data on a global stage.
Globally, there are now more than 20 different open finance standards and with ever-increasing complexity in the global open finance landscape, creating Standards for Innovation is a must to help banks, Fintechs and regulators understand and compare the different standards around the world.
The Standards Library helps financial institutions and innovators understand the global landscape, making it quick and easy to assess the technical standards adopted by a geography or financial system.
Open finance initiatives are gaining momentum around the world and the Innovation Atlas provides an overview of what is happening where. The levels of financial inclusion, telecommunication challenges and banking and data privacy regulations are all documented and explored in an easy-to-navigate map within the Innovation Atlas.
The combination of Smart Data Foundry’s aizle synthetic data engine together with Ozone API’s sandbox creates the ideal innovation environment for regulators, financial institutions and Fintechs to test new ideas, build prototypes and rapidly bring new products to market.
Commenting on the launch, Bryn Coulthard, Chief Product and Technology Officer at Smart Data Foundry said “We are delighted to partner with Ozone API to bring these two products to market, allowing for the acceleration of innovation in Open Banking, Open Finance and Open Data across the globe. Our strength in synthetic data, coupled with Ozone API’s sandbox creates the ideal environment for innovation.
The launch of the Standards Library and Innovation Atlas could not come at a better time as we see ever increasing complexity in the global standards landscape. We know, as we’re at the sharp end of helping banks and regulators around the world to deliver standards based open APIs. We’re delighted to partner with Smart Data Foundry to deliver these valuable tools to the market in order to help accelerate innovation.
It’s quick and easy to access Standards for Innovation – just head to My Foundry and log in or create an account to start using the Standards Library and the Innovation Atlas.
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Innovation
We make change happen through data-driven innovation. Empowering customers and businesses by accelerating innovation and international collaboration in the financial services ecosystem.
Global Reflections on Designing Standards
Open Banking (OB) has been revolutionising credit risk profiling and aiding personalised financial planning around the globe, all through the customer-permissioned release of banking data. This has been allowing accelerated innovation by shortening the time products can be created and making new markets accessible.
Meet aizle, our synthetic data engine.
Meet aizle, our synthetic data engine. Synthetic data can be used to build a rapid prototype, train an AI model, or run scenarios on the strategic impact of a new initiative.