Build a Platform for Open Banking
Open up opportunities beyond Open APIs
Regulation mandates the open ecosystem in the short term, but there’s value in going beyond the basics. Building a truly open payments platform puts you ahead of the competition when it comes to generating new revenue streams as digital payments explode.
Find out how banks can monetise the customer experience in this increasingly connected world of banks, through Open APIs.
Thriving in the New, Open Payments World
OPEN is a prevalent force that's driving change across the payments ecosystem. The industry is marching ahead with new open banking models and open regulatory environments such as the European Union’s PSD2 (Payment Services Directive) framework and open API initiatives. OPEN has become a movement in payments that’s stimulating competition, innovation and collaboration among all kinds of providers.
As many of these OPEN practices are new to payments, those providers in the center of this ecosystem – financial intermediaries and banks – have unanswered questions
In a new open payments report, ACI Worldwide and First Annapolis answer your questions and more:
- 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?
Open Trends and Industry Influence
44% of FinTechs ranked Open API’s as an opportunity (for growth) in 2017
OPEN API’S RANKED THE #1 MOST IMPORTANT TREND IN UK FINANCE
46 of banks believe API’s to be a top opportunity for partnerships
Open Payments Business Models and New Security Strategies
An on-demand webinar led by ACI’s Senior Fraud Consultant, Seth Ruden and First Annapolis Patrner, Joel van Arsdalet discuss the journey that led to today’s OPEN, faster payments world. A special focus is placed on how financial intermediaries can benefit as third party providers (TPP), and how to protect against heightened fraud risk.
- Why business models need to change in order to be OPEN
- How to ensure SECURE payments co-exist with OPEN payments
- The competitive opportunities that OPEN payments offers Processors and FinTechs
Open Technology Meets Faster Payments
As customers demand more payments choice and speed, regulators are driving change, too. The UK Faster Payments Scheme Limited (FPSL) developed an open access model to widen the reach of its real time scheme to all payment providers. As a result, the UK payments market is seeing increased innovation as FinTechs and alternative entrants can access the scheme directly and offer instant payment experiences just as easily as the big banks can.Find out more