Client: The client is a part of a consortium of the nine largest banks in the UK.
Areas of Operation: UK
As determined by the Competition and Markets Authority (CMA), banks were expected to comply with the Open Banking UK initiative. The bank wanted a partner to deliver Open Banking Release-4 across AISP, PISP, and Commercial business within the regulatory timelines in an outcome-based model, with an additional constraint that the R4 specification from the regulator was not finalized.
- Wipro onboarded a high-velocity engineering team, transitioning platform knowledge from previous releases without impacting R3 program delivery. Quickly scaled up a large on-shore team to support the multiple feature teams.
- Created a utility tool to simulate user journey and used it to test compliant APIs on it. This helped the team achieve 100% test automation, effective mocks
- Worked collaboratively with multiple partners of the bank to drive the Open Banking API program.
- Wipro delivered the Open Banking R4 specs using an Agile sprint-based delivery model
- Built and delivered fresh compliant Open Banking APIs for AISP, PISP, and Commercial, taking up less than a week of cycle time for integration testing.
- The bank could have faced penalties/ fines for non-compliance but Wipro helped the bank achieve successful delivery of Open Banking compliance program within the stipulated timelines.
- Shared the risk with the bank, by committing to an outcome-based commercial model with 100% fee at risk so both the bank and Wipro were equally invested in the success of Open Banking