Bespin Global, an award-winning consulting firm specializing in financial services data & AI solutions for Google, Amazon, and Microsoft cloud platforms, has officially announced a strategic partnership with Altitude Consulting, North America’s foremost advisory firm on Open Banking and Dodd-Frank 1033 compliance.
According to certain reports, the stated partnership will try and empower U.S. banks to seamlessly prepare for and implement open banking initiatives, starting with an innovative quickstart service called “1033 in 33 Days.”
In case you weren’t aware, the open banking concept makes it possible for consumers to securely share their financial data with third-party applications and services through API integrations. Such a setup, on its part, should facilitate innovation, transparency, and competition among financial services.
You see, by leveraging open banking, retail consumers across the board can gain more control over their finances, regardless of whether it’s through budgeting tools, enhanced loan options, or personalized investment advice. As for the financial institutions, they can come expecting benefits that are understood to include secure transmission of consumer data, transparency into the uses of that data, and control of the third parties that receive access.
To further contextualize the same using an example, integrations with open banking platforms like Finicity and Ozone API will also allow banks to offer customers a more seamless digital banking experience, as consumers can effectively link multiple accounts, analyze spending patterns, and access tailored financial products, all from a single app.
“Open Banking impacts every facet of a bank’s operations—from compliance and architecture to data strategy and customer experience. With this partnership, we’re helping banks craft comprehensive technology strategies that ensure compliance while positioning them for long-term success in a rapidly evolving financial ecosystem,” said Reuben Piryatinsky, CEO of Altitude Consulting.
Talk about “1033 in 33 Days” service on a slightly deeper level, it will deliver at your disposal a streamlined, outcome-driven path to compliance and modernization.
Breaking it down further into specific parts, we begin the prospect of compliance, where you can come expecting to achieve end-to-end Section 1033 compliance across compliance, risk, architecture, data, product, and customer experience.
Next up, there is the potential for monetization. This involves relying upon open banking to create new revenue streams, such as premium data services and customer-centric financial products.
Then, we have the de-risking aspect coming into play, something which allows you to receive a tailored, actionable and future-proof roadmap that packs together proven methodologies, processes, and technologies to minimize compliance and operational risks.
Rounding up highlights would be the availability of an implementation plan. Here, one can seamlessly transition from strategy to execution with Bespin Global’s professional services team, delivering a full-scale data modernization and open banking implementation.
“This partnership with Altitude Consulting allows us to harness the latest in cloud, data, and AI technologies to not only meet regulatory requirements but also open up entirely new revenue streams for banks. Open Banking is about more than compliance—it’s about using data to create personalized, customer-centric experiences that drive growth,” said Steven Zeller, Head of Product Strategy at Bespin Global US.
Founded in 2015, Bespin Global’s rise up the ranks stems from providing professional services, managed services, and data/AI consulting, with its specialties being public cloud implementations on Amazon Web Services, Google Cloud Platform, and Microsoft Azure. All in all, the company presently boasts enterprise and mid-market customers across financial services, healthcare, manufacturing, and entertainment, doing so through the phases of migration, modernization, data transformation, and operations.
Bespin’s excellence in what does can also be understood once you consider it has, so far, won AWS Global MSP of the Year (2023), Google Cloud Expansion Partner of the Year (2023), and a Visionary in Gartner’s Magic Quadrant for Public Cloud (2024).
