Tech Company Raidiam Enters NayaOne's Tech Marketplace
In a move to accelerate digital transformation in key regions, including the Middle East, NayaOne and Raidiam have joined forces. This partnership aims to help financial institutions unlock embedded finance and platform business models at pace.
Raidiam, a global leader in secure identity and access management (IAM) solutions, is already trusted by over 1,000 banks worldwide. NayaOne, on the other hand, offers a low-code/no-code platform for rapid prototyping and experimentation, as well as API orchestration.
Enhanced API Security and Access Management
By combining their expertise, NayaOne and Raidiam enable enterprises to securely manage API access with strong authentication, authorization, and fine-grained policy controls. This reduces the risks of unauthorized access and data breaches, ensuring a secure environment for Open Banking and payments.
Improved Open Banking Compliance and Interoperability
The collaboration helps banks and fintechs comply with Open Banking regulations by delivering robust identity verification and consent management services. Simplifying API integration and interoperability via NayaOne’s platform ensures a seamless user experience while maintaining regulatory compliance.
Streamlined Digital Identity Verification
The partnership facilitates efficient and secure identity verification workflows. This strengthens user authentication processes, enabling secure customer onboarding and fraud prevention across digital services.
Faster and Secure Payment Transactions
The partnership supports secure API-based payment initiation and validation, ensuring that payment instructions are authenticated properly and executed safely. This decreases fraud risks and helps payment providers meet regulatory and security requirements.
Accelerated Innovation with Low-Code API Management
NayaOne’s low-code environment allows developers and business users to rapidly build, orchestrate, and modify secure API interactions without deep technical hurdles. Combined with Raidiam’s robust cybersecurity layer, this accelerates digital transformation while preserving strong security and compliance.
In a joint statement, Karan Jain, CEO of NayaOne, and Barry O’Donohue, CEO of Raidiam, expressed their shared vision. "We're passionate about banks offering their customers account connectivity to the apps they love, while protecting against cybersecurity risk," said O'Donohue. Jain added, "Raidiam Connect ensures innovations can transition seamlessly and securely into real-world production."
This partnership follows another previously announced collaboration between NayaOne and Smart Data Foundry for financial innovation. Together, these partnerships aim to accelerate engagement with Raidiam's products and shorten the innovation lifecycle, ultimately helping financial institutions thrive in the digital age.
- The collaboration between NayaOne and Raidiam enables enterprises to manage API access securely, utilizing strong authentication, authorization, and fine-grained policy controls, thereby reducing the risks of unauthorized access and data breaches.
- By working together, these companieshelp banks and fintechs comply with Open Banking regulations by delivering robust identity verification and consent management services.
- The partnership facilitates efficient and secure identity verification workflows, strengthening user authentication processes and ensuring secure customer onboarding.
- The partnership supports secure API-based payment initiation and validation, ensuring that payment instructions are authenticated properly and executed safely, decreasing fraud risks.
- NayaOne's low-code environment, combined with Raidiam’s robust cybersecurity layer, accelerates digital transformation while preserving strong security and compliance.
- Karan Jain, CEO of NayaOne, and Barry O’Donohue, CEO of Raidiam, believe that their partnership will help financial institutions offer account connectivity to loved apps while protecting against cybersecurity risk, ultimately helping institutions thrive in the digital age.
