API Consent Management by Qwist

Qwist’s API Consent Management ensures that assets like data and services are securely accessible to TPPs via APIs, enabling them to act on behalf of end-customers. The core consent management feature ensures that asset owners always retain control, and TPPs can only access what they are authorized for. This product integrates seamlessly with existing security solutions (e.g., IAM), and supports not just state-of-the-art Open Banking but also broader Open Finance use cases, addressing the essential complexities faced by financial institutions.

Qwist’s API Consent Management empowers you to manage and enforce various sets of permissions at runtime for third parties accessing your customers’ assets. Permission categories are highly dependent on the current Open Finance use case, and the product allows for individual configuration for each use case. When asset owners grant access to third parties, a specific set of permissions is stored in a consent object. API access is only granted if a consent exists and contains the necessary permissions. Integrating with your existing Identity and Access Management (IAM) systems and multi-factor authentication solutions, this product keeps customer identities and credentials secure and easily reusable. Its flexible architecture not only addresses today’s Open Finance authorisation challenges (as will be required by standards like e.g., Berlin Group Open Finance, UK Open Banking, OpenWealth, SFTI Common API), but also prepares you for future use cases.