Posts Tagged: PSD2

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

How Banks Are Becoming Uberized

You’ve probably heard the “banks are becoming tech companies” sentiment. It’s an idea that’s been around for years, and it captures what seems like an evolution in the way we consume and use everything from food to money. As consumers, we want options at our fingertips, and perhaps it’s this forcing banks across the world to open up their services with APIs and microservices, and ultimately turning them into tech companies. Read more

The Promise of Open Banking: A Nordea Case Study

There’s a particularly apparent trend in today’s economy: we’re moving away from big, centralized systems towards collaborative, access-based ones. It’s changed the way we shop with websites like eBay, the way we travel with apps like Uber, and the way we get a good night’s rest with portals like Airbnb. Read more

Open Banking Amplifies the Need For Definition Driven APIs

In today’s global economy, it’s no secret that consumer power is growing. Organizations all over the world are rethinking their digital strategies to maximize their customer focus and engagement. In fact, customer engagement is the catalyst that jumpstarts digital transformation, mobile first, and other strategic initiatives that aim to bring legacy systems into the modern digital age. Read more

How Can Consumers Relate To Open Banking?

Open banking has garnered a lot of attention recently. With the introduction of UK open banking and Payment Services Directive 2 (PSD2) becoming law across the European Union, regulations are fundamentally altering the way banks handle personal data. The movement is also not restricted to Europe, with regulators in the USA having released their intentions in October 2017 on access to bank accounts. Read more