Posts Tagged: banking

Why Do FinTechs Want To Save Screen Scraping?

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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

CMA Will Save Open Banking APIs in Post-Brexit Economy

CMA Will Save Open Banking APIs in Post-Brexit Economy

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“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

PSD2 Sanctions Access to Personal Banking Data, Amplifying FinTech Growth

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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

FinTech and APIs: Making the Bank Programmable

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With negative public connotation still ringing after the Global Financial Crisis, banking institutions are usually portrayed as monoliths, slow to change even amidst obsolescence and new technological advances. This won’t be for long, as the FinTech sector is becoming increasingly open and programmable. Read more