WL Digital Banking Platform wins PayFORUM Award 2018 | equensWorldline
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Worldline wins a PayFORUM Award 2018 in the "API" category for its WL Digital Banking Platform solution

Worldline wins a PayFORUM Award 2018 in the "API" category for its WL Digital Banking Platform solution

Bezons, 20 March 2018 – The WL Digital Banking Platform solution, developed and deployed since 2011 by equensWorldline - a subsidiary of Worldline - won the PayFORUM Award 2018 in the 'API' category.

Within the context of the transformation of the regulatory and competitive landscape, a profound change in the banking industry is taking place and new financial services are emerging. Like other industrial sectors, such as Telecoms or Media, the historical services of banks are gradually becoming commodities, forcing the banking industry to reinvent its business beyond basic financial services.

The PSD2’s entry into force on 13 January 2018 encourages financial institutions to devise new business models to exploit the opportunities linked to Open Banking. Whether their strategy is defensive, with the presentation of regulated APIs, or offensive, aimed at generating new revenue through the monetization of proprietary APIs, the WL Digital Banking Platform solution will enable them to benefit from this new stimulating environment.

This solution, developed and deployed since 2011 by equensWorldline, currently processes more than 100 million API calls per month and includes, in particular, a PSD2 regulatory module: the WL Access 2 Account module. This solution enables financial institutions to:

  • Present the bank's services through an API catalogue, compliant with European standards – enhanced by the services of Worldline and its partners,
  • Manage the developers community through a customisable portal,
  • Manage "Third Party Providers" by integrating the connection with European registers,
  • Manage the transaction lifecycle (managing end-user consent, managing exemption rules, formatting system information according to standards),
  • Provide metrics to be presented in the reports required by the regulations.

Beyond basic compliance, Worldline's goal is to support financial institutions in their Open Banking strategy and in the design and launch of new use cases.

Arnaud Deudon, Head of Digital Banking Products, says "We are very pleased to see the vision and the efforts of our teams rewarded. Under certain conditions, PSD2 forces banks to share data and services that were previously reserved for their exclusive use. However, this constraint is a tremendous opportunity for the banking industry as it stimulates competition, catalyses innovation and puts the main focus on the customer relationship. The services offered by our digital platform, and many FinTech partners, allow our customers to rethink their user journeys, and take advantage of this revolution."