The open banking API testing solution will enable organizations to automate, digitalize, and personalize their open API testing process.

FREMONT, CA: FIME, a payment testing company, recently introduced the TrustAPI, an automated test tool designed for open banking APIs. It will enable banks and third-party providers (TPPs) to validate APIs against PSD2-compliant standards and streamline the launch of open banking services.

The latest FIME Test Factory 4.0 powers the new test suites. It offers automation, digitalization, and customization of the open API testing process. TrustAPI is designed to accommodate testing in-line with the open-access API standard of the European automated clearinghouse, Telephonic Financial Company (STET).

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The TrustAPI tool is not only user-friendly but enables consumers to test APIs as per their business needs and requirements seamlessly. It allows users to verify against multiple API standards and PSD2’s third-party access to account (XS2A) requirements. The popularity of open banking API standards is steadily increasing, especially for achieving regulatory compliance, interoperability, and safe data transfer.

The industry-first test platform facilitates a seamless open banking experience. It leverages the standardizations, enabling stakeholders to offer quick and cost-effective open-access services without compromising the quality. FIME is endorsing several open banking standardization initiatives. It has extended its support to STET in creating its standard open-access API and has decided to participate in the Berlin Group’s NextGenPSD2 task force.  Also, it is collaborating with banks and TPPs across the world to define, design, deploy, and verify their open API strategy.

The company is working on integrating additional standards into the test library, including the Berlin Group’s NextGenPSD2 and the Open Banking UK (OBUK) API standards. FIME has over 20 years of expertise in secure transaction testing, managing risk, accelerating time to market, and ensuring the quality and security customer payments. It collaborates with expert teams across the globe to provide customers with personalized consultancy, solution engineering, automated test platforms, and certification services need throughout every stage of digital transformation projects. The FIME experts work with organizations in various sectors, including payment networks, industry bodies, and vendors, enabling consumers to perceive and resolve their technical and commercial challenges.