Value offer
- Igor Dantas Silva (Unlicensed)
Welcome to the Open Keys user experience guide, a Finansystech by Celcoin branded product!
This guide will provide you with an overview of the product, our purpose as a platform and the main benefits your company can obtain by leveraging business strategies with Data Consumption and Payment Initiation - tools from the Regulated Open Finance universe.
Introduction
Open Keys is an innovative solution that helps non-regulated companies leverage their business strategies through access to financial data consented by their customers and also through the use of the financial transaction model with the Payments Initiation. All this in a simple and completely safe way.
Throughout this guide, you will discover what is beyond the simplified way of dealing with a solid and rich database and payment method. We will open the secrets of a solution that has a complete monitoring and configuration panel so that your business needs are met.
Main benefits
Access to customers' financial data: with the consent of its customers, it will be possible to have access to the entire history that a person has with a financial institution in the regulated universe, in the scope of Account Data, Registration Data, Credit Cards or Credit Operations (loan). This will allow you to offer personalized products and services, guaranteeing benefits such as lower rates, more advantageous conditions, much more secure profile analyzes and much more.
Simplicity and convenience: Open Keys offers a unified platform and an intuitive panel, through which you will have access to relevant information about the monitoring of the APIs used - which will allow you to analyze data consumption flows and/or payments, facilitating the decision making. Furthermore, using a single API, you will be able to unlock access to the financial data of all your customers through Open Finance. This eliminates the need to deal with multiple integrations and simplifies the process of getting the necessary data.
Advanced security: By using Open Keys, you no longer need to rely on screen scraping, which provides a more secure experience. The solution uses technologies within the regulated environment, with a focus on achieving the same purposes and ensuring the protection of financial data.
Improved User Experience: Open Keys focuses on user experience to increase conversion rate. It allows payments and transfers without people having to access their bank's application and enter all the necessary bank details for the transaction. This makes the use of financial products and services simpler and more convenient, making it easier for users to take control of their financial lives.
ITP Payment Transaction Initiation
PIX with greater security: making ITP (Payment Transaction Initiation) is faster and cheaper than working with the acquirer's PIX solution. Companies have a more agile and simple alternative to make payments and transfers without their customers having to access the bank application and enter all the bank details necessary for the transaction. It makes the process faster and more convenient!
Speed and Convenience: Automated payment transaction initiation allows transactions to be processed quickly and conveniently. Payers can make payments instantly, without having to fill out forms or repeatedly provide information. This streamlines the payment process and saves time for all parties involved.
Enhanced security: With payment transaction initiation, sensitive payer data, such as bank account or credit card information, is protected and kept in a secure environment. This reduces the risk of fraud and theft of financial information, ensuring greater security in transactions.
Improved user experience: Payments transaction initiation simplifies the user experience by eliminating the need to manually enter payment details for each transaction. This makes the process more convenient and payer-friendly, increasing customer satisfaction.
Lower Error Rate: Automating payment transaction initiation significantly reduces the possibility of human errors, such as incorrectly entering bank account or credit card numbers. This minimizes problems caused by unsuccessful or rejected transactions due to errors in the provided data.
Integration with other systems: Payment transaction initiation can be easily integrated with other systems, such as e-commerce platforms, mobile applications or financial management systems. This allows for more fluid and efficient integration between different parts of the payment process, simplifying the operation and improving efficiency.
Traceability and transparency: with automated payment transaction initiation, it is possible to have a complete and traceable record of all transactions carried out. This provides greater transparency and allows for better tracking of financial transactions for both payers and beneficiaries.
Your company acts like a regulated institution: the B2B customer who contracts Open Keys operates like any other regulated company. After consenting to the data, the customer has access to all regulatory features, providing a complete and reliable experience.
White Label Journeys: in addition to all these benefits, Open Keys also offers the option of hiring white label journeys. This modality allows companies to customize the platform with their own brand, offering an even more personalized experience to their customers. And the best, with journeys aligned with the specifications of the Open Finance ecosystem.
With an extensive list of benefits, it's easy to understand why Open Keys is the most desired solution in the scenario of unregulated companies, isn't it!? But the guide is not over yet and there are many more tips and news for us to present to you. Here we go!
A partnership that drives business
Due to its position as a leader in Open finance solutions, Finansystech has become the newest company of the Celcoin group, which continues to consolidate its strategy of being a one stop shop for BaaS and financial infrastructure, whether for regulated institutions, such as Banks, IPs and SCDs , as well as for unregulated companies, who can use our technology in combination with our banking licenses.
The acquisition, signed in the first half of 2023, takes into account not only the prominence that Finansystech has in the market, for its technology and innovation, but also the technological resources that allow its customers to become participants in the open financial system and qualify to initiate payments, share data and manage consents, which will consolidate the Open Finance vertical in Celcoin.
Inside the Open Finance Universe
Open Finance is a regulated ecosystem that creates a communication network between Financial Institutions in the Brazilian market, which allows the Transmission and Consumption of Data, as well as financial transactions, in a safe, fast way and through well-defined protocols - transmission via APIs (Application Programming Interfaces).
With such robustness and highly refined and constantly improving security criteria, the Open Finance ecosystem plays a key role in Open Keys, in ensuring that all transactions, whether data or payments, occur in a controlled, certified, secure environment.
The innovative approach of the regulated ecosystem aims to promote collaboration and interoperability in the financial sector and also has as its premise the defense that financial data belongs to customers and they should have the power to decide with whom and when to share them.
With the implementation of Open Finance, regulated financial institutions are encouraged to make their customers' data available through APIs - the basis we use on our platform. This openness of data creates a unique opportunity for unregulated companies to access and use this information securely and with the consent of customers.
Open Finance premises, ensured by Open Keys
Secure and controlled sharing: Open Finance establishes strict security and control mechanisms to protect customers' financial data. This ensures that only authorized companies, with the consent of customers, have access to this information, promoting data confidentiality and privacy.
Increased competition and innovation: By allowing unregulated companies to access customers' financial data, Open Finance promotes competition in the industry. This creates a more dynamic and competitive environment where companies can offer innovative and personalized services based on customers' financial information.
Better customer experience: Open Keys is able to connect your company to all scopes and data groups accessible in Open Finance. With this, your company will be able to provide a more complete and integrated experience to customers, by offering more personalized solutions, identifying specific needs and improving the services and products it offers.
Operational efficiency: with the Open Keys platform, you will be able to obtain a unified view of customer data in a complete panel, which will allow you to manage financial operations more efficiently.
In this scenario, it was possible to understand that Open Keys uses the Open Finance concept to provide significant benefits to unregulated companies, offering secure, simplified and controlled access to customers' financial data. By understanding this overview of the regulated ecosystem, you will be able to get the most out of the product's functionality. In the next step, we will discuss the flow of using the platform, a complete picture of how to make the most of this solution.
Secure Connection and Financial Data Protection at Open Keys
Connecting with the regulated Open Finance ecosystem is essential to accessing customers' financial data securely and in compliance with data privacy regulations. Open Keys establishes a direct and reliable connection with financial institutions through specific APIs, ensuring the protection and confidentiality of information.
Establishing the Connection
To access customers' financial data, Open Keys integrates with authorized banking institutions and financial entities. This integration is carried out through APIs developed in accordance with the guidelines and standards established by regulated financial institutions.
Implemented Security Mechanisms:
Encryption: During the transmission of financial data, the platform uses advanced encryption to ensure that only authorized parties can decrypt it. This security measure prevents interceptions and unauthorized access, protecting data confidentiality.
Authentication: The platform employs strong authentication methods to verify the identity of the parties involved in the connection. This strict authentication prevents unauthorized access to financial data, ensuring that only authorized companies can gain access to customer data.
Tokenization: In certain situations, the platform uses tokenization as an additional layer of protection for sensitive data. Tokenization replaces actual financial data with tokens, which are random values and do not contain sensitive information. This practice reduces the risk of data exposure in case of security breaches.
Monitoring and Auditing: Open Keys performs continuous monitoring of transactions and access to financial data. All activities are logged for auditing and traceability purposes. This constant monitoring helps identify suspicious activity and ensures compliance with security and privacy regulations.
Benefits of Secure Connection
By using these security mechanisms, Open Keys establishes a reliable connection with the regulated Open Finance ecosystem, ensuring the protection and confidentiality of customers' financial data. This approach allows unregulated companies to gain access to the data they need to offer personalized services, while complying with all data privacy guidelines and regulations set by the relevant authorities.
Conclusion: Secure connection and protection of financial data are priorities at Open Keys. The platform establishes a direct connection with regulated financial institutions, implementing security mechanisms such as encryption, authentication, tokenization and constant monitoring. By adopting these measures, Open Keys ensures data confidentiality and remains compliant with data privacy regulations, promoting confidence and security of customers' financial information.
Strategic Use of Customer Financial Data
Using customers' financial data strategically allows the company to improve its products and services, providing a personalized experience and meeting the individual needs of each customer. However, it is critical to emphasize the importance of using this information ethically, responsibly and in compliance with applicable data privacy regulations.
Benefits of Using Financial Data
Personalization of Services: The company may use financial data to offer personalized products and services, adapted to the specific needs of each client. Personalized recommendations, special offers, credit limit adjustments and differentiated payment terms are examples of how personalization can improve the customer experience.
Informed Decision Making: Financial data provides valuable insights for analysis and strategic decision making. By understanding consumption patterns, market trends and customers' financial behavior, the company can identify business opportunities, improve its offer and optimize its operations.
New Product and Feature Development: Based on customer financial data, the company can identify gaps in its current offering and develop new products and features that address unmet needs. This drives innovation and continuous improvement of the products and services offered.
Improved Customer Service: By using customers' financial data, the company can provide more efficient and personalized service. Access to a customer's financial history allows service agents to provide relevant information and quick solutions, improving the overall customer experience.
Ethical and Responsible Practices
Respect for Data Privacy Regulations: It is essential to comply with current regulations, such as the LGPD (General Data Protection Law) in Brazil or the GDPR (General Data Protection Regulation) in the European Union. The company must adopt adequate security measures to protect customer data and ensure explicit consent for the use of such data.
Transparency and Confidentiality: It is important to be transparent with clients about how financial data is used. Clearly explaining the benefits to customers and ensuring that their information is treated confidentially and securely builds trust and long-term relationships.
Option to Review and Update Preferences: The business must provide customers with the option to review and update their data sharing preferences. This demonstrates respect for customers' autonomy and allows them to have control over the use of their information.
Conclusion: By using customer financial data ethically and responsibly, the company strengthens customer trust, builds lasting relationships, and drives innovation. It is essential to use the information to customize services, support strategic decisions, develop new products and improve customer service, always in compliance with current data privacy regulations. In this way, the company contributes to the sustainable growth of the business and to customer satisfaction.
Security and privacy considerations
Security and Privacy Considerations
The security and privacy of customers' financial data are of utmost importance to the Open Keys platform. We recognize the sensitivity of this information and are committed to implementing advanced security measures to protect data from unauthorized access and ensure compliance with data protection regulations.
Data Encryption: To ensure protection during the transmission of financial data, we use advanced encryption. This means that the data is converted into an encoded format during the transmission process, making it unreadable to any unauthorized person. This security measure prevents unwanted eavesdropping and ensures that only authorized parties can access and decrypt the data.
Continuous Monitoring: The Open Keys platform constantly monitors transactions and access to customers' financial data. This allows us to identify any suspicious activity or irregular behavior and act quickly to mitigate any risks. Detailed logging of these activities also helps us track any security breaches and take appropriate corrective action.
Compliance Policies: We are fully compliant with data protection regulations, such as the LGPD (Lei Geral de Defesa de Dados) in Brazil and the GDPR (General Data Protection Regulation) in the European Union. We maintain a proactive approach to ensure that all guidelines are strictly adhered to. This includes obtaining explicit consent from customers for the use of their data, providing transparency into how data is used, and allowing customers to review and update their data sharing preferences.
Authorized Access and Data Control: Only authorized companies have access to customer financial data through the Open Keys platform. We implement strong authentication methods to verify the identity of the parties involved in the connection, ensuring that only authorized companies can gain access to customer data. In addition, we offer customers control over their own data, allowing them to review, update or withdraw their consent at any time.
Commitment to Privacy: The privacy of customers' financial data is a top priority for us. We maintain a strict confidentiality policy, ensuring that customer information is treated with the highest level of care and protection. We will never share or sell this data to third parties without the explicit consent of customers.
Conclusion: The security and privacy of customers' financial data is critical to the Open Keys platform. We implement advanced security measures such as data encryption, continuous monitoring and compliance policies with data protection regulations to ensure maximum protection of this sensitive information. Our commitment to the security and privacy of customer data is critical to building and maintaining trust in our regulated Open Finance ecosystem.