Open banking initiatives are changing the way banks operate and engage with third parties and partners. However, those are not the only changes the movement is causing — it’s also having an unexpected side effect of pushing banks to reimagine their traditional roles as financial...
Old-school FIs typically rely on outdated consumer data from credit bureaus to review a consumer’s financial viability. However, APIs can help FIs review transactional bank data to generate a more accurate consumer financial health picture, reducing the potential for issuing risky loans. In October’s B2B...
The rivalry that banks and FinTech firms might have experienced in the past now appears to be behind them. Both sides of the financial landscape appear ready to collaborate, with APIs acting to bridge the divide and to facilitate financial innovations. However, APIs are not...
From excessive prices to sold-out shows, online search for theater tickets can be fraught with friction. But in London’s West End district, APIs are quickly connecting customers with their ideal seats. In the September B2B API Tracker, Mark Prethero, director of partnerships for London Theatre...
For many businesses both large and small, payments received on a timely basis can give a boost to a business’ efforts to remain financially sound, hire new staff or move forward with expansion plans. Late payments, meanwhile, can damage relationships with business partners, banks and...
Businesses understand all too well the importance of delivering and receiving payments fast as a means to grow and stay competitive. That’s why so many companies, from financial firms to payment solution providers to even theater ticket sellers, are turning to API solutions to make...
No one likes standing in lines, whether inside a brick-and-mortar store or in the virtual waiting room of a slow-moving or complicated online checkout process. Making it easy for consumers to hand over their payments — and earning their loyalty by doing so — is...
With growing competition in the financial services sector, financial institutions (FIs) from Hong Kong to the U.K. are offering open APIs to developers to stay ahead of the curve. The August edition of the B2B API Tracker explores how banks and other financial players are...
The sea change that is afoot in financial services is drawing a bead on APIs, as a new Citi report notes. Patents filings are grabbing headlines in the US, while open banking has traction in Europe, with a few firms targeting services for micro businesses....
