Izola Bank teams up with Fiorano Software on compliance

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Malta’s Izola Bank has chosen Fiorano Software to deliver PSD2 compliance and open banking capabilities for the financial institution, according to a press statement. Fiorano PSD2 Accelerator will be fast-tracking Izola Bank’s PSD2 compliance while allowing it to focus on its strategic goals and growth through innovative new services.

“We evaluated a considerable number of vendors to partner for the PSD2 solution deployment and managed to find only one that was extremely knowledgeable and offered a hands-on approach. That was Fiorano with PSD2 Accelerator. They are assisting us in every step of the way with the local regulators and their assistance in understanding the regulation is essential in driving the project successfully,” said Gordon Briffa, Head of ICT at Izola Bank.

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Izola Bank chose the Fiorano PSD2 Accelerator — a single preintegrated technology stack — for its capability to deliver ASPSP interfaces while addressing technical considerations for access to account, strong customer authentication, common and secure channels of communication, TPP identity and regulatory checking. Izola expects Fiorano to be substantially reducing implementation time, cost and uncertainty risks related to PSD2 by eliminating multiple products, installations and integration points.

Izola Bank was established in 1994 and today provides internet banking to customers in Belgium, France and Malta. The company says it has invested “heavily” in its IT and ebusiness infrastructure to ensure reliability and security of transactions.

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Fiorano is a US Silicon Valley-based business founded in 1995 and provides digital business backplane and enterprise integration middleware, high performance messaging and peer-to-peer distributed systems, API management and banking solutions. Global companies including NASA, AT&T Wireless, Federal Bank, Bank of Kigali, Commercial Bank of Africa, Canadia Bank and the NHS have deployed Fiorano’s solutions.