Credit Bureau Reporting and Business Information (CRIF), a global company specializing in credit bureau reporting & business information systems, analytics, outsourcing and processing services, said today it is teaming up with Ozone API, a UK-based fintech that runs a standards-based open API platform.
Ozone API, which services software tools and expertise to a host of banks and financial institutions, said its collaboration with CRIF is focused on supporting financial institutions to “securely expose their data and create a comprehensive suite of financial solutions that address their evolving needs.”
“The primary objectives of the collaboration include enhancing data-driven decision making, streamlining banking operations and improving customer satisfaction,” the companies clarified in an emailed statement.
“The deal will enable CRIF and Ozone API to offer innovative, secure and efficient financial services, ensuring a competitive edge in the market for our clients,” they added.
API
Application programming interface (API) platforms, such as the one run by Ozone, are often labelled “the digital backbone” of banking infrastructure as they offer a unified set of capabilities for developing and managing APIs to support a company’s API strategy.
Ozone API made a name for itself in recent years by providing technology that delivers compliant open APIs, mostly to monetize open banking.
The partnership between CRIF and Ozone API is driven by “a shared vision of transforming the financial services landscape through collaboration and innovation,” stressed Andrea Martellone, digital platform business development & ecosystem Strategy Senior Director at CRIF.
“We have a shared vision of transforming the financial services landscape”.
– Andrea Martellone
By integrating their respective strengths, both companies aim to provide comprehensive solutions that meet the diverse and evolving needs of financial institutions, Martellone added.
“We are combining our strengths to create a seamless and efficient banking experience. This collaboration aligns perfectly with our mission to innovate and provide advanced solutions that drive growth in the financial sector.”
In addition, James Bushby, Ozone API global partnership lead, said that “this [agreement] will help drive financial inclusion by providing the right tools to financial institutions to allow their customers to make more informed decisions about their financial wellbeing and get access to a wider range of financial services.”
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