Token Services Architecture
Services are units of software that perform a function. They are used to break complex problems into a series of simpler problems. Services are also designed to be separately deployable, allowing Token to build highly scalable and resilient systems.
A high tolerance to various stresses and failures under real word conditions is called resilience. Token's services architecture builds systems that continue to function when things fail by making them autonomous, thereby eliminating single points of failure (SPOFSingle point of failure – part of a system that, if it fails, will stop the entire system from working.). These services are then deployed to Token's cloud infrastructureFunctionality, data and resources running on physical and virtual servers maintained and controlled by Token, and accessed via an Internet connection. and scaled up or down on demand. Hence, when one service instance fails, the Token PlatformProvides turnkey PSD2 and OBIE compliance that allows third-party providers to easily and securely develop applications that support payment initiation and account information retrieval. The core of TokenOS is the "smart token," providing authorization to access an underlying asset. Smart tokens define the conditions (rules) governing access to the asset. detects this and automatically finds or creates another instance of the service that is working. This is called failoverHigh-availability system capability that automatically and seamlessly switches to a reliable alternate or backup upon failure of a primary instance to eliminate, or at least reduce, the impact on system users when a service failure occurs..
A high-level structural view of Token's services architecture looks like this (hover to enlarge):
The foregoing, all working together, enable easy integration with your existing IT infrastructure, delivering bank connectivity to TPPs via a single connection. Moreover, just as bank integration can be accomplished directly or through Token, TPP integration can be direct-to-bank or through Token, as well. TPPs choosing the latter course (through Token) can use their own licence or Token's licence. Ultimately, this distinguishes TPPs connecting to banks through Token into three types:
- TPP Type 1 – connects to Token's network of banks via the Token (REST) API or Token SDK using Token's TPP licenceRegulatory permission to conduct open banking/PSD2 business as an Account Information Service Provider (AISP), a Payment Initiation Service Provider (PISP), or both. You apply for licencing to the FCA and/or its European counterparts by enrolling in the Open Banking Directory, which includes verified details of all participants – a crucial part of the Open Banking ecosystem..
- TPP Type 2 – connects to Token's network of banks via the Token API or Token SDK using the TPP's own licence.
- TPP Type 3 – connects directly to a specific bank via the Token API or the Token SDK using the TPP's own license.