APImetrics has partnered with tomato pay, QR-code-based payments app for businesses and sole traders, to launch the first independent production monitoring dashboard for Open Banking APIs.
The API.expert dashboard will use tomato pay’s robust Open Banking connections to provide performance metrics on the top 30 regulated Open Banking brands in the UK, including AISP calls from the leading UK banks, for just $80 a month. This includes data on sandboxes and Open Data APIs.
“Open banking is here to stay, and we both want it to be a huge success. Being able to see independent, third-party quality data is an essential first step for trust in the ecosystem. Especially one where almost a quarter of the providers are providing sub-standard services,” said David O’Neill, CEO of APImetrics, a leading provider of monitoring for hard-to-monitor production APIs in regulated sectors like finance, with clients at major banks, telcos, and IT companies.
“Any ecosystem is only as strong as its weakest providers, but customers only see the app in front of them, not the different API services behind the app, each of which is potentially a weak link. That’s critical for tomato pay, but also critical for their customers and any other providers and consumers in the new open banking and payments ecosystem,” O’Neill said.
tomato pay, a payment technology firm, must assure customers and brands that the connections they rely on are working as expected. This is precisely the challenge that they and others in the banking and open finance sector must overcome.
“For business and brand protection, we needed to know not only what was working, but what potentially was outside our control that might negatively impact us. APImetrics gives us that assurance,” said Nicholas Heller, CEO and co-founder of tomato pay.
“The logical move was for us to partner to provide that level of assurance to the entire ecosystem and provide some much-needed accountability. tomato pay is thrilled to partner with APImetrics to bring unparalleled insight into Open Banking production APIs in the UK. The API.expert dashboard allows for greater transparency into the APIs that make Open Banking function and gives service providers an immediate pulse on service uptime and connection quality. By leveraging tomato pay’s robust Open Banking connections in the UK, API.expert will provide financial institutions and technical service providers with the critical data they need to better serve customers.”
Through API.expert, the APImetrics new premium service, anyone can see current performance data on production systems from the UK’s leading banks. Over the coming months, more geographies and financial services providers will be added, making API.expert a resource for IT systems globally.
“One of the recurring problems for our customers and partners,” continued Heller. “Is not knowing if systems are working or not when they come to make a call because there are no trusted data sources for them to turn to. That’s changing with API.expert Premium and the work we have done together.”
APImetrics and tomato pay are now working to expand the monitoring coverage to include more Open Finance systems across the UK, Europe, and the rest of the world.