What Ozone API does

Ozone API is a London-headquartered fintech providing a cloud-agnostic, standards-agnostic open banking API platform that enables banks, financial institutions, central banks, and regulators to deploy compliant open APIs across all major global standards — UK Open Banking, PSD2/NextGen PSD2, FDX, CDR, Berlin Group, and standards in Bahrain, KSA, Brazil, and Jordan — within a single deployment. Founded in 2017 by the three architects who authored the UK open banking standard (Chris Michael, Huw Davies, and Freddi Gyara), the company powers open banking for 100+ institutions across more than 40 countries and operates 8 regional hubs. The platform is FAPI certified, ISO 27001:2022 certified, SOC 2 Type 2 attested, and IASME Cyber Essentials certified, and is the official model bank provider for Open Banking Limited (OBL) for the UK v4.0 standard update.

The product is delivered as the modular Ozone API Platform — comprising Ozone Connect (pre-built core banking connectors), Ozone Resource Server (standards-compliant API transformation), Ozone Authorization Server (FAPI 2.0-grade security and consent), Ozone Verify (TPP onboarding and directory integration), Ozone Developer Portal, Ozone Admin Portal, Ozone Consent Manager, Ozone Consent App (biometric SCA), and Ozone Sandbox. Add-on modules include Verification Of Payee (VOP) for SEPA instant payment compliance and a Premium APIs suite covering enriched transaction data, fraud detection, and commercial variable recurring payments. Deployment models are full SaaS or on-premise, with cloud-agnostic support across AWS, OCI, Azure, and Google Cloud.

Revenue is generated primarily through annual SaaS platform licensing (scaled to institution size and API request volume), monthly VOP subscriptions, premium API licences, and professional services including conformance testing, systems integration, regulatory exemption support, and 24/7 enhanced support. Commercial motion combines direct enterprise field sales via regional General Managers across UK & Europe, MEA, US & Canada, LATAM, and APAC, with a three-tier partner programme (Referrer, Reseller, Premium Reseller) that distributes Ozone through channel partners including Plaid, GFT, Engine by Starling, Temenos, 10x Banking, Plumery, and Finerio Connect. The company is privately held following a £8.5 million Series A led by Gresham House Ventures in January 2024, with a board chaired by Dame Jayne-Anne Gadhia (former Virgin Money CEO).

Name

Ozone API

Legal name

Ozone Financial Technology Limited

Website

https://ozoneapi.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Ozone API provides a standards-agnostic open banking API platform enabling banks, financial institutions, and regulators across 40+ countries to deploy compliant APIs in 8-10 weeks. Founded by UK open banking standard architects, it serves 100+ institutions globally.

Ownership category

akta.pro rank

Product category

Open Banking API Platform

NAICS

Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Open Banking APIs & Connectivity (FSAMAFAA)

akta.pro secondary industries

Marketplace APIs & API Monetization Platforms (BPAMAOAM), API Management & Gateways (BPAMAOAA)

Keywords

• Open banking platform
• Open finance APIs
• PSD2 compliance
• API management software
• Financial data sharing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Platform Licensing: Ozone API generates primary revenue through SaaS licensing of its open banking API platform. Clients pay a licence fee for access to the platform, which includes implementation, ongoing standards updates, and support. The platform is deployed either as a full SaaS offering or as a software-only on-premise model. Pricing is scalable based on institution size and volume, with flexible deployment options (SaaS or on-premise).
2. VOP (Verification Of Payee) Service: VOP services are priced on a simple SaaS licence fee plus scalable pricing as request/respond volumes grow. Banks and PSPs pay for VOP compliance functionality integrated into the Ozone API Platform. Enhanced support and service desk options are available as add-ons.
3. Premium and Value-Adding APIs: Beyond regulatory compliance APIs, Ozone API helps banks commercialise premium APIs that generate new revenue streams. These include advanced data APIs, enriched transaction data, fraud detection APIs, and commercial variable recurring payment (CVRP) APIs that can be monetised by API providers.
4. Professional Services and Enhanced Support: Additional revenue streams include enhanced support packages (24/7 TPP support, 24/7 service desk), regulatory support (e.g., exemption support), systems integration, technical training, and conformance testing and certification services. These complement the core platform licence.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels11 records

Core offering

Ozone API provides a standards-agnostic, cloud-agnostic open banking and open finance API platform that enables banks, financial institutions, central banks, and regulators to deploy compliant open APIs across all major global standards (UK Open Banking, PSD2, FDX, CDR, Berlin Group, and regional variants) within a single deployment. The platform is offered as full SaaS or software-only on-premise licensing, complemented by add-on modules such as Verification of Payee (VOP), premium APIs, and market-wide API hub infrastructure for national ecosystems.

Product overview

Ozone API provides a unified open banking and open finance platform architecture centered on the Ozone API Platform, complemented by specialized sub-products including Ozone Connect (integration connector), Ozone Resource Server (API transformation engine), Ozone Authorization Server (security), Ozone Developer Portal (documentation), Ozone Admin Portal (management), Ozone Consent Manager (consent management), and Ozone Consent App (mobile authentication). The platform supports all global open banking standards (UK Open Banking, PSD2, CDR, FDX) and offers add-on modules for Verification Of Payee, Premium APIs, and market-wide API hubs for central banks. The Open Finance Tracker and Open Banking Intelligence Hub provide supplementary analytical and educational resources. Deployment options include SaaS (full service) and software-only (on-premise) models.

Differentiator

Problem solved

Functional benefit

Products and services

• Ozone API Platform Market-leading open banking API platform that enables banks, financial institutions, and regulators to deliver standards-compliant open APIs supporting UK Open Banking, PSD2, FDX, CDR, and other global standards. Enables compliance in 8-10 weeks versus 12-18 months for custom builds, with built-in consent management, developer portal, authorization server, and ongoing standards updates.
• Verification Of Payee (VOP) Open API solution for reducing fraud and misdirected payments by checking payee account information against the payee's bank, providing match/no match/close match responses. Mandatory for SEPA instant payments under EU Instant Payment Regulation and offered with conformance testing via the VOP API Toolbox.
• Premium APIs Advanced open APIs that enable banks to commercialise open banking by offering enhanced data, analytics, fraud detection, and commercial variable recurring payment (CVRP) APIs beyond regulatory requirements, helping drive new revenue streams through value-adding propositions.
• The Open Finance Tracker Interactive global resource co-developed with Smart Data Foundry featuring a Standards Library to explore and compare global open banking standards and an Innovation Atlas to track implementation progress across markets worldwide.
• The Open Banking Intelligence Hub Comprehensive resource hub providing open finance ecosystem guides (visual map of roles across global markets), Standards Snapshots for every major standard, Open Banking Glossary with Jargon Busting Quiz, and Global Voices video series featuring interviews from regulators and industry leaders.
• Market Hub / National Open Finance Hub Market-wide API hub solution powered by the Ozone API Platform, delivered in partnership with central banks and major market enablers to power entire national open finance ecosystems, including market sandboxes, conformance and certification suites, and ecosystem support infrastructure.

Quantifiable outcome

• Deploy open banking compliance in 8-10 weeks vs 12-18 months for custom builds
• +2 more outcomes

Named customers13 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature11 records

Partnerships

Five partnerships are on record, tiered core.

• GFTcoreImplementation/ SI/ Consulting Partner · 29 January 2026GFT and Ozone API partnered to help Canadian financial institutions navigate the transition to open banking under Canada's Consumer-Driven Banking Act. GFT contributes financial services consulting and technology expertise while Ozone API provides its open API platform. The partnership offers an end-to-end solution reducing implementation risk, addressing compliance requirements, and enabling banks to commercialise open banking capabilities. The collaboration targets Canadian banks and credit unions accelerating toward a standardised open banking framework.
• iFAST Global BankcoreTechnology or Integration · 1 January 2026iFAST Global Bank partnered with Ozone API to complete a full migration to the UK Open Banking Standard version 4.0 in January 2026, becoming one of the first UK banks to fully adopt the new standard. The partnership introduced ISO 20022 messaging, enhanced FAPI 1.0 security, improved payment transparency, and groundwork for Variable Recurring Payments. iFAST Global Bank achieved profitability in Q4 2024 and holds over $1 billion in customer deposits following its acquisition by Singapore-based iFAST Corporation in 2022.
• PlaidcoreTechnology or Integration · 24 June 2025Ozone API joined Plaid's FDX enabled Gateway Partner Program to accelerate open banking adoption in North America. The collaboration integrates Ozone API's platform with Plaid's network of financial institutions and fintechs, enabling secure, standards-compliant API services and expanding open banking capabilities across the US and Canada. The partnership positions Ozone API as a preferred gateway partner for FDX-compliant open banking integration.
• Open Banking Limited (OBL)coreTechnology or Integration · 15 October 2024Ozone API secured a major contract with Open Banking Limited (OBL) to serve as the official model bank provider for the UK open banking model update. The model bank supports testing and development of APIs in line with OBLv4 standards, aiding banks and third-party providers in their transition. Ozone API is also supporting banks in the US market following new open banking regulations there.
• Smart Data FoundrycoreStrategic or Co-development PartnerOzone API partnered with Smart Data Foundry (a not-for-profit focused on data accessibility) to develop The Open Finance Tracker — a comprehensive global resource for tracking open banking, open finance, and open data economy standards. The partnership combines Ozone API's technical expertise with Smart Data Foundry's data accessibility mission. The tracker includes a Standards Library and Innovation Atlas covering global markets.

Scale indicators7 records

Recent moves6 records

Expansion highlights9 records

Direct peers

• TrueLayer: TrueLayer is a UK-based open banking platform providing API connectivity between banks and fintechs, serving banks, lenders, and merchants across Europe. It directly overlaps with Ozone API on PSD2-compliant data sharing and payment initiation services.
• Plaid: Plaid is the leading open banking and financial data connectivity platform in North America and a direct Ozone API FDX Gateway partner. Both platforms connect banks to fintechs and TPPs through standards-compliant APIs, with Plaid operating at much larger scale and consumer fintech focus versus Ozone's standards-led institutional and regulator positioning.
• Token.io: Token is a UK open banking payments network enabling banks to connect via PSD2 APIs for account-to-account payments. It competes with Ozone API on bank-side API connectivity and payment initiation, particularly for European Tier 1 banks.
• Konsentus: Konsentus provides open banking regulatory technology including TPP identity verification and PSD2 compliance solutions to banks across Europe. It is a focused competitor to the Ozone Verify and consent management components of the Ozone API Platform.
• Yapily: Yapily is a UK- and Europe-focused open banking API platform that connects banks to fintechs via a single API. It directly competes with Ozone API on enterprise bank connectivity, PSD2 compliance, and premium API offerings for the same European bank buyer.

Broad incumbents

• Finicity (Mastercard): Finicity, owned by Mastercard, is a North American open banking and financial data aggregation platform. It competes with Ozone API on FDX-compliant data sharing and TPP connectivity for US banks, with Mastercard's broader payments stack as a key differentiator.
• Tink (Visa): Tink, owned by Visa, is a European open banking platform providing PSD2 connectivity, account aggregation, and payment initiation services to banks, fintechs, and merchants. It competes broadly with Ozone API across European bank APIs and benefits from Visa's distribution muscle.
• Temenos: Temenos is a global core banking platform vendor serving 3,000+ banks, with embedded open banking API capabilities. It is both an Ozone API partner/customer and a competitor, as banks may choose Temenos' built-in open banking module versus Ozone's dedicated platform.
• Mastercard Open Banking: Mastercard's Open Banking Solutions (built on Finicity and Aiia acquisitions) offers bank connectivity, account verification, and payment initiation as part of its wider payments network. It competes with Ozone API by bundling open banking into a much broader global financial infrastructure offering.

Emerging players

• 10x Banking: 10x Banking is a cloud-native core banking platform provider with embedded open finance capabilities. As both a listed Ozone API partner and a potential competitor, it represents an emerging platform play where banks could opt for built-in open finance rather than Ozone's dedicated stack.

Market position

Strengths5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ozoneapi

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ozone API