WeBank Decoding Open Banking: The Three Open's


We strongly believe the notion of Open Banking should go beyond the concept of API banking, therefore WeBank began the proposition of The Three Open's to foster fintech innovations.

Open Platform

To go beyond API banking by sharing data models, algorithms, customer onboarding procedures, risk management and other capabilities with participants in the collaborative business ecosystem.

Financial services can be provided by retailers, non-financial service companies, fintech companies, software companies, and etc., by using API, SDK, and H5 provided by Open Banks like WeBank.

Enable scenario-based financial innovation

Open Collaboration

Distributed business models shift the landscape of futuristic commerce, where collaborative business partners will become more sophisticated in vertical markets.

Open collaboration will drive the construction of shared business infrastructure, which nurtures more collaborative business models.

Enable collaborative business innovation

Open Innovation

Open Innovation initiated by financial institutions and fintech companies allow collaborative business partners to leverage external technology advancements.

Provide open source software, intellectual property licensing, and reference implementations to encourage and empower partnerships.

Enable technology community innovation

Tech-driven Innovation


WeBank capitalizes on the advantage of A.B.C.D technologies to advocate inclusive finance.

Artificial Intelligence

• Replace manual works

• Anti-fraud

Example Modules:

• eKYC

• Chatbot


• Distributed ledger

• Evidence-preservation

• Smart contract

Example Modules:

• Auto-reconciliation

Cloud Computing

• Over-the-cloud scalability

• Cost control

Example Modules:

• API/SDK-enabled services

Big Data

• Risk management

• Precision marketing

Example Modules:

• Risk modeling

WeBank Showcases

A platform model for business partners connecting through open API, SDK or H5. Take API Banking as an example. In API Banking, a bank offers banking services through API, SDK or H5 on the open platform, where business partners could connect to the financial services.The bank, the other way around, can extend its services into more scenarios with the help of partners to provide better services and enrich choices of products for users.

Open Innovation bestowed innovation abilities on partners with open SDK, IP empowerment and fintech reference implementations, lowering the entry cost of collaboration and enabling further advancement and innovations on technologies.

One of the best practices of Open Innovation is Financial Blockchain Shenzhen Consortium (FISCO), co-founded by WeBank together with other financial agencies and technical companies, and its product FISCO BCOS, developed by the open source work team of FISCO. Through the continuous efforts toward promoting open source and developing its community, FISCO BCOS has become an ecosystem with hundreds of Implementations and thousands of members and developers that has linked up the companies of different industries. A lot of applications have emerged in different business areas such as payment, ledger reconciliation, settlement and clearing, securitization, supply chain finance, credit checking and OTC market in financial industry, also areas outside financial industry such as digit escrow, cultural copyright, recreational games, social management, governmental service.

Open Collaboration is to form a business alliance model based on the concept of collaborative business. Under this model, banks and other participants jointly work to complement each other with their expertise to form an ecosystem of collaborative business, ultimately to minimize cost and maximize profit of participants.