Case Study: Large Global Bank achieves compliance with European Open Banking standards with Wipro

Global bank achieves compliance to multiple European open banking standards

A large global bank based in the UK needed a strategic partner to implement Open Banking in Corporate Banking across the UK and Europe, meeting PSD2 timelines while complying with the UK Open Banking Standard, Germany’s Berlin Group Standard, and France’s STET. The bank’s challenge was to create Open APIs from complex mainframe systems and modernize a legacy IT landscape while supporting multiple payment types and regional requirements.

Wipro delivered the solution using a streamlined Agile model, building new Open Banking APIs, exposing them through a developer portal, and documenting workflows for internal audit and TPP onboarding. The program achieved compliance to all three European open banking standards within the required timelines, reduced the risk of penalties, automated processes and testing for faster compliance, and enabled API reuse across other geographies to help lower costs.