What jobs exist in open banking platforms?

The landscape of financial technology is constantly shifting, and within the specialized domain of open banking platforms, a diverse array of professional roles has emerged to manage the connections between financial institutions, third-party providers, and consumers. ^[2][9] These roles are centered around the secure and standardized sharing of financial data via Application Programming Interfaces (APIs), necessitating a unique blend of technical skill, product vision, and regulatory awareness. ^[1][4] The job market reflects this specialized need, showing demand across engineering, product development, security, and client-facing functions across the ecosystem, from large financial players like Visa ^[3] to specialized providers like Dwolla ^[8] and OpenPayd. ^[7]

# Core Engineering

At the foundation of any open banking platform is the technology that makes data exchange possible. These teams are responsible for creating, maintaining, and scaling the APIs that adhere to specific industry standards, such as those mandated by various regulatory regimes globally. ^[1][4]

Software Engineers specializing in open banking often focus intensely on API development. They must be proficient in building high-availability, low-latency services capable of handling massive transactional volumes securely. ^[1][7] Unlike generalist software roles, the focus here is often on specific data structures and authentication protocols, such as OAuth 2.0 or JSON Web Tokens (JWTs), ensuring that every data request is correctly authorized and formatted according to the required specifications. ^[1]

Another critical role in this area is the Solutions Architect. While an engineer builds the specific endpoints, the architect designs the entire technical blueprint for how the platform interacts with various client systems. For instance, an architect at a company providing open banking services might need to design integration pathways for a new client entering the market, balancing the client's legacy systems with the firm’s modern API structure. ^[5] The ability to translate complex business requirements—like initiating a payment or retrieving account information—into a clear, scalable technical design is paramount for this position. ^[3]

A distinct technical specialization gaining traction is in data infrastructure. As open banking involves managing vast streams of transaction data, roles focused on Data Engineering and Data Science are increasingly important for tasks like aggregation, normalization, and analytics of the transferred information. ^[8]

# Product Definition

The people defining what the technology does, and why, sit within the product management discipline. Roles here directly influence the user experience for both the third-party developers building on the platform and the end-users whose data is being accessed. ^[6]

A Product Manager in open banking needs to possess a rare dual expertise. They must deeply understand the technical capabilities and limitations of the underlying APIs while simultaneously grasping the commercial implications and regulatory mandates impacting data sharing. ^[6] For example, when a new PSD2 requirement rolls out in Europe, the Product Manager must first assess the technical lift required by their engineering team and then communicate the resulting product changes, new features, or compliance deadlines to external partners. ^[4]

This function often separates into API Product Management and Platform Product Management. An API Product Manager focuses specifically on the developer experience (DX), treating the developer as their primary customer. They might be responsible for the quality of documentation, the clarity of error codes, and the ease of sandbox testing. ^[1] Conversely, a Platform Product Manager might focus on the internal architecture, ensuring the platform is scalable and maintainable for future growth. ^[6]

It is interesting to note the strategic weight placed on senior product roles. For instance, a Director of Product Management overseeing open banking functions at a major financial institution needs to align external API strategy with internal digital transformation goals, a complex balancing act that bridges the external FinTech ecosystem with the established banking core. ^[6] The true challenge here is not just feature delivery, but managing versioning—ensuring old APIs remain supported while introducing new standards without breaking existing customer integrations. ^[9]

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# Security and Trust

Given that open banking platforms are fundamentally about transferring sensitive financial credentials and transaction data, roles dedicated to security, risk, and compliance are absolutely non-negotiable. ^[3][4]

Cybersecurity Engineers in this space are highly sought after. Their work goes beyond standard network security; they focus intensely on the security posture of the APIs themselves. This includes implementing strong encryption both in transit and at rest, managing certificate rotation, and ensuring adherence to strict security certifications. ^[8] A key area of focus is preventing session hijacking and ensuring that data is only served to consumers who have explicitly granted consent for that specific data point. ^[1]

Compliance Officers and Risk Managers work closely with the technology teams. In many regions, open banking mandates are regulatory in origin (like PSD2 in the EU or CDR in Australia). Therefore, these professionals translate the legal text into actionable technical requirements. For instance, they define the criteria for "strong customer authentication" (SCA) that the engineering team must implement into the authentication flow. ^[4]

An important consideration, often overlooked in purely technical job descriptions, is the geographical overlay on these security roles. While core encryption principles remain universal, the specific consent models and data residency rules can vary significantly between jurisdictions. A role focused on open banking compliance in North America must deeply understand the evolving state-by-state approach to data access, which differs significantly from the standardized regulatory approach seen in the European Union, demanding specialized expertise that bridges law and technology. ^[2]

# Business and Growth Functions

Building and securing the platform are only half the battle; companies need personnel to drive adoption, manage partnerships, and secure revenue streams. ^[7][8]

Business Development Managers and Partnership Managers focus on onboarding new third-party providers (TPPs) or integrating with new financial institutions (FIs). They need to understand the value proposition of the platform well enough to negotiate contracts and manage the technical onboarding process simultaneously. ^[7] A successful BD manager in this space doesn't just sell a service; they often guide a potential partner through the technical prerequisites of integrating with the API ecosystem. ^[9]

Sales Engineers or Solutions Consultants bridge the gap between the technical sales team and the client's engineering staff. When a prospect expresses interest, this role steps in to build a proof-of-concept (POC) using the open banking APIs, demonstrating exactly how the platform solves the prospect's specific data access or payment initiation needs. ^[3] This function requires a salesperson’s communication skills married with an engineer’s hands-on ability to configure and troubleshoot. ^[5]

Furthermore, roles in Client Success or Technical Account Management are vital for retention. Once a client is onboarded, these teams ensure the client is effectively using the platform, successfully navigating updates, and quickly resolving any production issues related to data synchronization or authentication failures. ^[7]

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# Operational and Regulatory Roles

The continuous operation of an open banking platform requires specialized support staff to handle incidents and manage regulatory relationships. ^[4]

SREs (Site Reliability Engineers) are essential for maintaining the uptime and performance targets that financial services demand. Their focus in an open banking context is often on monitoring the health of the external-facing API gateway and setting up automated failover procedures should a connection to a partner bank temporarily fail. ^[8]

Regulatory Affairs Specialists track the evolution of open banking legislation globally. As governments update standards (e.g., revised technical specifications for API security), these specialists inform the Product and Engineering teams so that the platform remains legally compliant and avoids costly remediation efforts. ^[4]

Considering the technical velocity of open banking, an actionable tip for any professional looking to move into this area is to prioritize mastering standardized data modeling over proprietary platform specifics. For example, understanding the nuances of the ISO 20022 standard, which underpins much of modern payment messaging, provides transferable expertise that is valuable whether you are working for a payment initiator provider in North America or a data aggregator in Europe. ^[2] This foundational knowledge makes transitioning between different open banking ecosystems far smoother than simply learning one company's specific internal code base. ^[1]

# Categorizing Open Banking Positions

To visualize the breadth of opportunities, we can categorize the main function areas that consistently appear in job searches and company career portals within the open banking and API economy. ^[1][9]

The demand reflected in these job postings suggests a maturation of the industry. Early stages were dominated by pure software development to meet initial regulatory deadlines. Now, the emphasis is shifting toward refining the experience—making the connections more secure, the APIs easier to use for developers, and the entire ecosystem more commercially viable. ^[6][7] The presence of Director-level roles in established institutions confirms that open banking has moved from a fringe technical project to a core strategic component of modern finance. ^[6]