Download - API is the New Black
API is the new digital language
Banks need to speak it fluently,
or risk becoming isolated and eventually
disintermediated, by API native speakers.
It’s not a question of if, or when.It’s how many of them.
Banks have the opportunity to learn
from the techniques & practices
of Internet Giants (amazon, google etc.)
Financial APIs need agreementsbeyond technical aspects
Source: EBA, Understanding the business relevance of Open APIs and Open Banking for banks, May 2016
Legal + Operational + Functional + Technical
The API movement is HUGE!
You can now reach:
Your customers + FinTech ecosystem
PSD2 is not complianceits your biggest opportunity
2.5xSource: Freeform Dynamics, Exploiting the Software Advantage, Lessons from Digital Disrupters, October 2015
Digital DisruptersOutperform their markets
2x 1.5xRevenueGrowth
New-BusinessRevenue
ProfitGrowth
Of Banks have either already
launched, or plan to launch within
the next 12 months, an API initiative
Banks are already workingon APIs!
Source: More Banks Working on APIs in 2016, But Bureaucracy Remains a Problem | Bank Innovation
78%
It needs a multidisciplinary team
Technology + Business + Marketing
APIs are not about technologyit’s about your Business, Re-Imagined
64 Princes Court , 88 Brompton Road , Knightsbridge, London SW3 1ET, United Kingdom | Tel. : +44 2071172538 | www.paymentcomponents.com
@paymentcomp
FinTech API Experts