The European financial services industry is on the cusp of a technological revolution. Reforms like PSD2 and the CMA initiative in the UK are forcing traditional banking institutions to enter the API Economy as active participants.
Great news for the FinTech scene, one would think; at last the banking platforms are being opened up ready for third-parties to securely access a customer’s data without the need to screen scrape online banking interfaces (also frequently referred to as ‘direct access’). Read more
Here’s an interesting fact: If you live in the EU your personal data is yours. You are the owner of your data, a fact enshrined in law under the General Data Protection Regulations (GDPR). As owners of data and citizens of many economies — internet, application, information, API — we have a myriad of tools and technologies available to mine, mash up, and generally manage our data as we see fit. Read more
Adding new layers of complexity within a digital service without sacrificing user experience is a difficult endeavor. Especially for platforms that accept online payments and subscription formats, maintaining support for an increasing number of payment methods is deceptively complex.
Users don’t want to think too much about the payment process. Read more
“The storm had now definitely abated, and what thunder there was now grumbled over more distant hills, like a man saying ‘And another thing…’ twenty minutes after admitting he’d lost the argument.”
-Douglas Adams, So Long, and Thanks for All the Fish
Regardless of your point of view and the continued rumbles of the argument, Brexit is a fact: The United Kingdom will be leaving the European Union, most probably by summer 2019 if recent announcements at the Conservative Party conference are enacted by the government itself. Read more
On the European FinTech stage, forthcoming initiatives and regulations will both disrupt and foster innovation in the banking sector of the API economy. The most significant of these is the Payment Services Directive 2 (PSD2), a new regulation that will apply across the European Union and is likely to result in a huge increase in the number of APIs for banking products. Read more