Lightweight, flexible full stack platform for transactional banks

Stay ahead of the competition with a real-time processing based on blockchain technology.
*Currently customized for e-money management according to E-Money Directive (2009/110/EC)

Events & Meetups

OpenbankIT Asia tour
Date City Speakers Topic
12th of April Singapore Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
17th of April Jakarta Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
21th of April Hong Kong Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
24th of April Shanghai Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
25th of April Kuala Lumpur Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
OpenbankIT Europe tour
Date City Speakers Topic
11th of May Milan Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
12th of May Berlin Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
13th of May Istanbul Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
OpenbankIT USA tour
Date City Speakers Topic
25th of May New York Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
26th of May Los Angeles Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
30th of May Silicon Valley Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
2th of June San Francisco Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
OpenbankIT Europe tour
Date City Speakers Topic
14th of June Copenhagen Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event
16th of June Oslo Pavel Kravchenko, PhD OpenbnakIT FinTech Meetup Past event

Overview

openbankIT was created by a team of professional bankers, bank software developers, blockchain and security experts. Principles of openbankIT are the same as in traditional systems. openbankIT’s primary goal is to significantly (by 90%) reduce the total cost of ownership (TCO) for banking system that processes e-money and extend its functionality.

  • The issue and distribution of e-money is fully controlled by the bank
  • openbankIT can work on dedicated infrastructure controlled by a bank or in the private cloud
  • When installed, only bank staff has access and full control over the system
  • Interface and business logic can be customized to suit needs of the bank and its customers

Modules

  • Transaction engine

    Based on private blockchain

  • Ledger of accounts

    Access to account by a cryptographic key

  • Processing module

    For interbank payments and clearing

  • Backoffice

    Admin, currency, fee management, statistics

  • Exchange

    Buying e-money using local payment systems

  • Identity

    Registration, enrollments, limits, blocking

  • Mobile wallets

    Cross platform and native

  • Web wallet

    Accessible from any location

  • Merchant

    Web/mobile & Wordpress plugin, IPN, test shop

  • Invoice management

    Payment requests, expiration, statistics

  • Recharge cards

    Generation, QR code, printing, statistics

  • Key server

    Secure online & offline storage of keys

Benefits

  • Financial

    • No license fees - only reliable license free components are used
    • Ability to review, modify, support the system by bank’s IT department
    • Usage of modern technology significantly simplifies further improvements
    • No need in expensive hardware and software environment
  • Transparency

    • Per-transaction audit
    • Easy backups
    • openbankIT can be connected to existing core banking or act as a primary one
  • Security

    • openbankIT can work on dedicated hardware/private/public cloud or on all of them at the same time
    • API calls are signed with digital signature, API can be completely open
    • No need to use expensive firewalls to protect the system
  • Speed

    • Fast payment confirmation (< 5 seconds)
    • Fast integration with other financial institutions that use the same technology

Our PartnersDOCs

Why Blockchain

openbankIT uses private blockchain as internal ledger to achieve the following properties:

  • User account management is done by a cryptographic key
  • High reliability, integrity and transparency of accounts and transaction history
  • Processing and backup transactions using standard hardware and software
  • Smart contracts ready infrastructure