APIs and the Rise of Open Banking
Fast, Open, Secure and Disruptive.
New regulations mandate an open banking ecosystem where financial data is shared through third-party APIs.
Building a truly open payments platform puts you ahead of the competition when it comes to generating new revenue streams as digital payments explode.Read Open APIs Report Contact Us
Payments Meet the Open Banking Platform
WHAT IS OPEN BANKING?
Open banking is a new standard established by European regulators and the UK government, instructing banks on how to deal with their customers’ financial information.
It is an open source API that provides access to third-party developers and applications. It allows software developers to link one discreet software application to another, enabling the two to communicate and interact to develop new functions, capabilities and aggregate accounts.
Watch the Video: Break Down Walls w/ Open Payments and Open Partnerships
LEARNING TO THRIVE WITH AN OPEN PAYMENTS PLATFORM
The industry is marching ahead with new open banking models and open regulatory environments such as the European Union’s PSD2 framework and open API initiatives. Open Banking has become a movement in payments that’s stimulating competition, innovation and collaboration among all kinds of providers.
In a new open payments report, ACI and First Annapolis answer:
- What are the key pillars of payments ‘Openness’?
- How will PSD2 and Open API’s impact my organization?
- How can I use Open API’s to better meet customer needs?
Use Case: Post-Purchase - Improve Customer Experience by integrating transaction, receipt, guarantee and reconciliation data for both consumers and merchants.
- Global Payments Innovation Jury Report (PDF)
- Instant + Open Payments = A Winning Combination (Blog)
- The Mexican Fintech Revolution – ¿Qué onda in Open Banking? (Blog)
- What Do Open APIs Mean for Banking Business Models? PSD2 Points of View (Blog)
- In the Era of Open Banking, 'Positive Skeptics' Have a Crucial Role to Play (Blog)
- Are Open APIs the Stairway to the New Payments Ecosystem? (Blog)
- Instant + Open Payments for Rapid ROI: How Rabobank leverages the agile combination (Video)
Open Trends and Industry Influence
44% Of Fintechs Ranked Open APIs as an Opportunity (For Growth) in 2017
Open APIs Ranked the #1 Most Important Trend in UK Finance
46 Of Banks Believe APIs to be a Top Opportunity for Partnerships