Open Banking
Application Programming
Interface (API) Strategy

Conference 2016

  1. Overview
  2. Programme
  3. Gallery
  4. Delegates
  5. Exhibitors
  6. Free Downloads

There is now a need for banks to take a closer look at application service governance and API management in order to take advantage of the opportunity presented by open banking API framework in order to leverage information to serve consumers better, to extend reach to not only customers but potential customers as well, while creating a better user experience as well as a catalyst for positive innovation, including paving the way for seamless interaction with third parties for the development of better products and the platforms to foster more partnerships

Banks must be ready to embrace changes as catalysts for positive innovation. The open banking API will put data to more efficient use as it can be shared both internally across the bank and externally with third-party software developers as well as to enable developers to integrate bank products and services within third party apps and programs that will enhance convenience and improve user experience. The use of APIs spur innovation between financial institutions and fintech as well as provides effective retrieval of the bank's data with ease of integration into existing applications and easily implemented across platforms, all this is geared to improve customer experience and enhance the route to collaboration. In addition, time has been set aside to discuss on PSD2 compliant. By January 2018, all financial institutions in the EU member states need to be PSD2 compliant. With PSD2 on the horizon, banks will need to consider their strategy in open banking, including the need to provide open access to regulated third parties to customer account information, transaction information, and payment initiation to these new third-party payment providers via APIs, while meeting stringent requirements for strong authentication and secure communication.