Tyk is emerging as a leading open-source API gateway platform, trusted by over 100,000 customers worldwide across sectors including finance, banking, insurance, and government,… With a lightweight architecture, Tyk delivers performance that is up to 10 times faster than WSO2, offering exceptional speed, stability and scalability.
This performance advantage is further validated by comparative lab tests, where Tyk has demonstrated outstanding throughput—up to 10 times faster than other API gateway solutions such as WSO2. While the installation packages that come with WSO2 API Manager and Identity Server are overly complex and resource-intensive, Tyk stands out with its lightweight architecture, making it especially suitable for high-transaction environments like banks and large organizations that process billions of transactions monthly, as published by the company.
Beyond superior performance, Tyk also excels in API security, data protection and seamless integration with third-party systems. Its flexible architecture allows easy integration with a wide range of third-party CIAM and Key Management platforms such as Ping Identity, Curity, Keycloak, and Okta – enabling organizations to build adaptable and robust security and access control strategies.
In a recent report by Gartner – a world’s leading research and advisory firm in information technology – Tyk was also highly rated and recognized as one of the top API management vendors, alongside Kong, Axway, IBM, and Google Apigee. In contrast, solutions such as WSO2, Solo.io, and Postman were ranked lower due to limitations in performance, scalability, and integration capabilities.
As Vietnam accelerates the development of its Open Banking ecosystem under the direction of the State Bank of Vietnam (SBV), Ms. Sian Goh, representative of Tyk, highlights that “Tyk’s high performance API management platform is well positioned to support financial institutions as they navigate new opportunities and regulations”.
Tyk provides key components including a Developer Portal, Sandbox, API Gateway, and Open API specification support, helping banks lay the groundwork for secure and interoperable Open Banking infrastructures.
For Consent Management, Tyk’s partnership with Savyint enables banks to build standards-aligned flows for data sharing, consent capture, and access control as required in Vietnam’s evolving Open Banking landscape. Banks can leverage on this partnership and integrate Tyk with tools to support TPP (Third Party Provider) management, including onboarding workflows, access control, and monitoring capabilities designed to assist compliance with Vietnam’s electronic transaction and data-sharing frameworks.
In terms of API Security, Tyk is able to integrate and support strong security practices such as JWT-based access control, JWS (JSON Web Signature) for payload integrity verification, and JWE (JSON Web Encryption) for data protection. Integration with third-party KMS (Key Management Systems) allows for end-to-end encryption and key lifecycle governance to meet enterprise-grade security expectations.
Tyk looks forward to working with financial institutions in Vietnam as they adopt Open Banking. Tyk’s platform capabilities in API security, developer experience, and third-party integrations are designed to work together with Savyint’s solutions to help banks meet evolving regulatory and technical demands.
