Payments and API Banking: Riding the Third Wave of API Innovation to Enable the Digital Economy
Open APIs are emerging as the vital enabler underpinning a new era of banking and payments services, driven by global initiatives and regulations such as PSD2. The collaboration model of the Open API ecosystem enables banks to harness FinTech-led innovation to deliver smarter, better payments experiences. Discover how in our new report with Accenture.
Open APIs are emerging as the vital enabler underpinning a new era of banking and payments services, driven by global initiatives and regulations such as PSD2. This new generation of services is enabled by an open, collaborative ecosystem of innovative API providers, and is characterized by a remorseless focus on delivering the optimal payments experience for customers.
In this white paper produced with Accenture, we explore:
- Industry and market drivers
- The progression from products to solutions to platforms
- The collaboration model of the Open API ecosystem
- Real-world examples of API innovation
- Potential blockers to success
- Recommendations on how to get involved
According to Accenture, banks that exploit Open APIs will profit from a potential revenue uplift of 20%, whereas those failing to do so risk losing 30% by 2020. A risk no bank can afford. Download the white paper to learn more.
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