Ibanity

Ibanity operates as a financial technology platform bridging banks, software developers, and end users. The objective was to provide a generic API portal allowing developers to integrate with multiple banks without building custom integrations for each institution.

However, each bank exposed:

• Distinct API implementations
• Unique authentication mechanisms
• Proprietary cryptographic workflows
• Anti-tamper protections (e.g., DexGuard)

To deliver a unified API layer, Ibanity required deep technical analysis of banking applications to understand their internal mechanisms and replicate connection flows securely.

This was not a standard API integration project. It required reverse engineering protected applications and replicating secure communication logic.

Cyrex worked closely with Ibanity to reverse engineer major Belgian banking applications and extract the necessary functional logic for secure API replication.

The engagement included:

• Full analysis of mobile banking applications
• Bypassing anti-tamper protections such as DexGuard
• Investigating cryptographic mechanisms
• Mapping authentication workflows
• Extracting base code functionality

By understanding how each banking application handled authentication and transactions, Cyrex was able to replicate integration logic securely.

The reverse engineering process enabled support for:

• Initial enrollment processes (account ownership verification)
• Returning user authentication (PIN, fingerprint, Face ID)
• Data requests for transaction initiation and ongoing financial operations

This allowed Ibanity to provide a unified API portal abstracting away individual bank complexities.

The project extended beyond Belgium. Following successful integrations with major Belgian banks, Ibanity expanded connectivity to banks in Luxembourg and the Netherlands.

Through a single open API portal, developers could now integrate with multiple financial institutions without direct negotiation of individual bank APIs.