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Recognized as Industry Leader for Innovation in Open Banking Products, Services and Driving Regulatory Standards
London, Dec. 13, 2019 — ForgeRock®, the leading provider in digital identity, has been named the ‘Best Technology Provider Vending to Open API Standards’ in the Open Finance Awards 2019 by the Financial Data and Technology Association (FDATA), a global trade body for financial services companies operating in fintech.
The award recognises ForgeRock’s continued innovation and work with regulators and customers to develop first-of-their-kind products and services, and define industry standards within the emerging Open API ecosystem. Since 2017, ForgeRock has worked directly with businesses, governments and regulators to help them innovate and implement solutions and standards around Revised Payment Service Directive (PSD2) and Open Banking.
ForgeRock’s engagement with stakeholders led to the development of the UK’s first reference implementation for the CMA 9, collaborating directly with the UK’s Open Banking Implementation Entity (OBIE), and Model Bank with APIs built to UK specifications.
Most recently, ForgeRock delivered the cloud-based Sandbox-as-a-Service, a testing environment for third-party providers and banks to test APIs to enable compliance with Open Banking and PSD2 deadlines, and PSD2 Accelerators, to help companies securely and quickly redesign their Open Banking infrastructure at scale.
ForgeRock’s products have had a significant impact for financial organisations looking to prepare for the implementation Open Banking and PSD2. As Luke Saunders, Product Manager for PSD2 & Open Banking, from Hargreaves Lansdown, the UK’s leading retail investment platform, said in ForgeRock’s winning entry: "By using ForgeRock's PSD2 Accelerators Hargreaves Lansdown saved 60% of the time associated with developing an Open Banking compliant solution".
Nick Caley, Vice President Financial Services & Regulatory at ForgeRock, said: “For several years now, ForgeRock has been at the forefront of how Open APIs can be used to drive innovation in financial services. In collaboration with customers and regulators globally, our teams work incredibly hard to develop products and services that will help realise the potential of Open Finance. We are very proud that FDATA has recognised ForgeRock’s track record in this area, and our ability to deliver cloud-based digital identity solutions which lead to outstanding outcomes for customers”.
Winners in the 13 categories of the Open Finance Awards 2019 were chosen by a panel of independent industry experts based on the quality of work they are doing to deliver Open Finance to their customers.
ForgeRock is a leading provider of modern, simple and comprehensive Identity and Access Management solutions that help customers deepen their relationships with their consumers and improve the productivity and connectivity of their employees and partners. ForgeRock serves more than a thousand brands, including Morningstar, Vodafone, GEICO, TomTom, and Pearson, as well as governments such as Norway, New Zealand, and Belgium, among many others. Headquartered in San Francisco, California, ForgeRock has offices in Austin, London, Bristol, Grenoble, Munich, Paris, Oslo, Singapore, Sydney and Vancouver, Washington. ForgeRock is privately held, backed by leading global venture capital firms Accel Partners, Foundation Capital, Meritech Capital and KKR. For more information and free downloads, visit www.forgerock.com or follow ForgeRock on social media:
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Dave De Jear