Posts Tagged: financial

6 Reasons for Banks to Embrace Open Banking

Open banking is an initiative that allows third-party financial services companies to access users’ banking data through the use of APIs. The primary goal of open banking is to put power back into the hands of customers, enabling them to securely use third-party financial products and services that rely on banking data or functionality. Read more

Is OAuth Enough for Financial-Grade API Security?

“If you think about where OAuth started, it was really about securing comments on blog posts and now we’re talking about enterprises, so it’s a whole different class of security.”

This is how Travis Spencer, CEO at the identity company Curity, opened his talk at our 2019 Austin API Summit, and it’s an astute summary of the way many products (particularly in the tech scene) are tweaked or re-engineered beyond their original purpose. Read more

CGAP’s Open APIs Program: Revolutionizing Financial Inclusion in Developing Regions

Since 1995, the Consultative Group to Assist the Poor (CGAP) has made poverty reduction its core mission. Comprised of 30 development organizations, leaders recently unveiled an ambitious new program. That effort focuses on lifting underserved groups out of poverty. Read more

How Does Open Banking Apply to US Banks?

Open Banking has been on our radar for several years now, with Nordics APIs first publishing a post on PSD2 back in 2016. Since then there’s been continual coverage in the financial industry press on the promise of Open Banking, with predictions of a “revolution” as FinTechs unlock the banking market and provide the tools, apps, and functionality that bank customers want yet are not provided by their banks. Read more

Bring on the Players: Who Wins in Open Banking?

It’s fair to say that the current noise around Open Banking is almost deafening. We constantly hear about the potential of this new market — driven by APIs — to change financial services by increasing consumer choice, crushing incumbent banks, or making a barrel of cash for a cool startup. Read more