It’s time to look at how to apply it to your service, understanding the essential requirements necessary to build the integration with a PISP (Payment Initiation Service Provider). The conditions you should examine are integration scope, clear documentation, and onboarding support. In this overview, the Neonomics customer success team are sharing their three best practices for integrating with a PISP:

  1. Understand the integration scope of the PISPs API (Application Programming Interface)
  2. Ensure the PISP documentation is clear and testable
  3. Check if the PISP have a dedicated support and onboarding team

1) Understand the integration scope of the PISPs API (Application Programming Interface)

Avoiding scope creep is a definite best practice in project management. To start an open banking project, you should consider all the aspects of your payment service and what you need to do before starting the integration.

First and foremost, we recommend having (or at least planning to have) a suitable backend in place, in addition to an app or website. Secondly, you need to consider the number of APIs you should integrate. Neonomics has built an API that connects to most European banks, helping our clients to avoid the struggle of making all the individual connections themselves. Thirdly, plan what endpoints you will use. You can quickly look at our API references to understand the Neonomics API’s scope and the number of endpoints.

Keeping control of the project scope allows you to plan better and limit the integration time — freeing valuable time to focus on creating a great user experience!

2) Ensure the PISP documentation is clear and testable

We’ve all been there. Messy documentation is a nightmare. The Neonomics customer success team strongly believes that API documentation should be as clear and straightforward as possible so that developers easily understand how to integrate with an AISP/ PISP. See an example of Neonomics quick start guide here.

Along with the documentation, the PISP should also have a test environment, such as a Sandbox development portal and a Postman collection. Here is a guide for how you can run the Neonomics API in Postman.

Clear documentation and a test environment give an excellent indication of how a product works, enabling you to try before you buy and test it in a safe environment.

3) Check if the PISP have a dedicated support and onboarding team

You should now have the courage to go for the real thing, enabling your open banking payments! Note down the AISP/ PISPs who have some best practices for integration and onboarding so that they have your back during integration. It is critical for your long term success that you get the support you need to ensure that technical help is there when your end-users need it.

At Neonomics, we have developed a tailored onboarding process that is flexible and easy-to-follow. After signing an agreement with Neonomics, our onboarding process consists of four phases Project initiation, Integration, Live testing and Go live!

Onboarding phases at Neonomics

Depending on how you allocate your time and resources, you can go live in as little as four weeks:

  • Project initiation — To kick off the integration, we have a meeting that will set expectations for the Neonomics onboarding process and align everyone on the process from now on
  • Integration — The integration period can take as little as two weeks, depending on your developers’ time and experience. We have a dedicated customer success department that will support you along the way. Once you complete integration, we will have a readiness assessment. The primary purpose of this is to do specific tech and compliance checks for security and ensure we comply with the Neonomics Payment Institution Licence and GDPR.
  • Live testing — Once we have given you your credentials to perform live testing, you can start live testing of use cases with some pilot testers. This phase ends with a Go live meeting where we run through any remaining blockers for release and align on the go-live date.
  • Go live — Congrats! You can now go live with our unified API!

Final thoughts

Neonomics offers a unified API that will provide you with open banking access to all banks across Europe. We have demanding customers with solid requirements for simplicity, efficiency and stability.

Neonomics has simple and straightforward documentation, allowing you to build efficiently. Our practical integration process helps you go-to-market faster. We have a stable platform, growing maturity and coverage by the hour. Several global brands are now building with us, so what are you waiting for? Sign up to our portal today.

If you want to know more about how to power your payments with open banking, feel free to reach out to us or read more about it here at our website.