Sao Paulo based Identity specialist Netbr announces readiness to meet BCB deadlines.
With Phase 2, Phase 3 and Phase 4 of the Central Bank of Brasil’s Open Banking deadlines just around the corner, Digital Banking identity specialist and Gluu partner Netbr today announced their readiness to meet regulatory deadlines, in collaboration with London based Open Banking specialist Openitio.
In-line with regulation ‘CMN-BCB Joint Resolution No. 1/2020’ joint resolution no. 1 of May 01 of the Central Bank of Brazil (BCB) and circular no. 4,015 of May 04, which outlines the scope of data and services, the BCB has announced specific dates to be met by different segments of banks for Phase 2 (July 15 2021), Phase 3 (August 31 2021) and Phase 4 (15th December 2021).
Adopting Open Banking requires very specific technology and expertise. “We are very happy to be partnering with London based Openitio and Gluu, to deliver to banks in Brazil ready-to-deploy technology in-line with the BCB’s specifications and the secure FAPI specification, in accelerated timelines” says Andre Facciolli, CEO of NetBR.
Austin TX headquartered Gluu recently announced availability of their Open Core Digital Identity platform for Open Banking in collaboration with Openitio. This environment delivers to banks a state-of-the-art platform that meets the most stringent FAPI specifications for Open Banking. “For banks with existing non FAPI compliant identity systems, the Openitio platform delivers easy-to-setup delegated authentication for FAPI, in-line with BCB specifications” adds Andre.
Bhupinder Singh, CTO of Openitio says “With the right vendor and technology, the potential of Open Banking does not stop at compliance, and allows banks to compete, innovate and disrupt, leveraging Open Banking for competitive advantage, like fintechs”.
The Brazilian financial market is rushing to meet the technical and regulatory requirements of open banking without having to cannibalize its technology legacies. “Our partnership with Gluu and Openitio reinforces our contribution to an agnostic evolution of Open Banking structures in a solid way, with the best cost / benefit and the best time to market. Our message to banks and fintechs is that open banking requirements do not have to be seen as a burden, in terms of cost, but as an opportunity for new revenue fronts from real digital transformation”, Facciolli added.
Netbr is a leader and pioneer in Latin America in architecture and implementation services for Identity and Access Management projects at all levels of the organization. It includes all layers of privilege (PAM), and governance (IGA), in addition to administration and management of consumer-focused identity (CIAM). And also embraces the control for employees, partners and affiliates (IAM/VDS), with full stack of services automation (DEVOPS).
Since 2003, Netbr has promoted global alliances with the main players in the area of access automation technologies and identity management based on artificial intelligence and machine learning.
With the philosophy of basing access security with automated context-based methods, Netbr develops and implements “zero trust” networks with compliance automation and a focus on frictionless access to ensure the best user journey. Large Netbr projects in several IAM disciplines help promote digital transformation in more than 50 large organizations in Latin America in industries such as Telecom, Financial Sector, Retail, E-commerce, Air, Health, Utilities and Government.
In the past two years, Netrbr has been listed as the main SailPoint partner in Latin America and one of the most important in the world. The American publication The Silicon Review named Netbr as “Best Small Company to Watch”.
For more details visit: www.netbr.com.br
London headquartered Open Banking specialist Openitio has been working with the industry in UK and Europe since the inception of Open Banking. Openitio has worked closely with Gluu to deliver to the market an efficient and cost-optimised identity platform that can be used by banks of all sizes to deliver Open Banking fast.
For more details visit: www.openitio.com