Since launching its consumer app, Frollo has used Heroku to deploy a host of other solutions. These include the PFM Platform which is used by clients like Canstar, Beyond Bank, P&N Bank, and Virgin Money Australia to offer financial wellbeing features to their customers—either by launching a branded white label app or by integrating the platform into their own app.
These apps rely on Open Banking, direct bank feeds and Electronic Data Capture to provide consumers with a complete picture of their finances. And with the use of Heroku and other security controls in place, Frollo has maintained its Open Banking accreditation and become a trusted partner in this space. In fact, Frollo has facilitated 14 million Open Banking API calls which account for around 95% of the industry total.
“One of the requirements in becoming an accredited data recipient is being able to show that you have all of the right security controls in place and a lot of that comes down to your infrastructure,” said Thrassis. “Heroku puts us in a strong position as it offers more granular controls than typical cloud providers.”
Of course security is also a critical requirement for Frollo’s business clients and it uses Heroku Private Spaces to quickly establish dedicated environments for each app it creates. These environments offer the privacy and control of a private network, giving Frollo’s clients added assurance their data is secure.
Leveraging these features and others like Heroku’s continuous delivery workflows, Frollo is continuing to build new apps and enhance its existing ones. In doing so, one of its key priorities is helping more businesses and consumers to realise the benefits of Open Banking.
“One of the biggest opportunities we see right now is helping businesses use the data available through Open Banking to deliver better outcomes for their customers, whether by reducing the time and cost of mortgage processing or by recommending actions to help them save money,” said van den Boer.