Mitra Deliver PSD2 and Open Banking Compliance


ieDigital are a leading solution provider for financial institutions and other financial services providers. Experts in fintech and customer experience, they have been applying technology to solve business problems since 1986. The company operates offices in the UK, Ireland and Australia with almost 150 employees. Their current flagship product is an omni-channel financial services platform.


In 2018 the European Union’s revised Payment Services Directive 2 (PSD2) came into force. PSD2 requires banks to open their data to third parties such as other financial institutions, financial services vendors and merchant retailers. While this was an opportunity to develop new income channels, it also represented a challenge in how to provide the systems and data access required, in a secure way, whilst adhering to Open Banking standards.

ieDigital had thus far struggled to handle the integration between the older legacy systems and new Software as a Service (SaaS) ones. Mitra Innovation were approached to build a scalable prototype solution that could be demonstrated to their board to gain approval for implementation. A solution that could be embedded in their middleware platform of choice and easily rolled out to their customer base.

“Our FinTech teams have demonstrated outstanding capabilities in using open source technologies to adapt to real world changes in policy and financial governance. Our success here proves that we are among the first technology innovators to deliver outstanding customer solutions whilst maintaining strict compliance with industry standards and governing bodies.”

Dr.Ashok SuppiahCEO of Mitra Innovation


Mitra Innovation established a collaborative team with ieDigital, developing a rapid proof of concept demonstration version in under four weeks. They used AWS to provide the API management, creating the Open Banking architecture for third parties to connect to, and cherry picked WSO2 Enterprise Integration for the integration layer to manage the communication between legacy and more modern SaaS applications and WSO2 Identity which would handle secure access management. This solution demonstrated compliance with PSD2, whilst adhering to Open Banking standards. With overwhelming board approval, the project shifted to the next phase of development, and deployment for commercial use. The key was the clever use of AWS and WSO2 middleware components with the client’s existing suite of products, embedding compliance with Open Banking and PSD2 standards within the solution.

Collaborative Team

ieDigital had struggled to solve the multi-layered issues around PSD2 and Open Banking standardisation. Mitra’s collaborative approach, extensive knowledge of AWS and WSO2 tools and methodology, and use of agile methods provided a rapid proof of concept model in under 4 weeks.

Open Banking

Mitra’s understanding of Open Banking standards drove sound decisions around the choice of AWS. The API Manager is an open source, enterprise-class solution that supports API publishing, lifecycle management, application development, access control and analytics in one cleanly integrated system.

Integration Platform

WSO2 Enterprise Integrator is a powerful, open source integration platform connecting to, and transforming data between legacy systems, SaaS applications, services, and APIs.


In collaboration with ieDigital, Mitra Innovation built a rapid proof of concept model which was used to develop a secure, resilient, scalable and market-ready payment gateway solution that is compliant with PSD2 and Open Banking standards.

This middleware solution is customisable and cost-effective for financial services providers operating throughout the European Union. Using globally trusted frameworks and methodologies, Mitra worked with ieDigital to resolve their compliance and integration challenges, delivering an innovative, elegant and highly marketable solution.


A solution that is fully PSD2 compliant  

Open Banking standards customisable for financial services in the EU

Flexible, industry standard platform that’s easy to maintain

Potential new monetisation channels with smaller companies using APIs to connect