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API is the New Black

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APIs have been "The hottest topic in FinTech" during recent months - do you know what they mean and why they represent the next big thing for FinTech & Financial Institutions?

Published in: Economy & Finance
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API is the New Black

  1. 1. API is the new digital language Banks need to speak it fluently, or risk becoming isolated and eventually disintermediated, by API native speakers.
  2. 2. It’s not a question of if, or when. It’s how many of them. Banks have the opportunity to learn from the techniques & practices of Internet Giants (amazon, google etc.)
  3. 3. Financial APIs need agreements beyond technical aspects Source: EBA, Understanding the business relevance of Open APIs and Open Banking for banks, May 2016 Legal + Operational + Functional + Technical
  4. 4. PSD2 = APIs Open Banking = APIs The EU, via PSD2, is leading the Open Banking movement
  5. 5. The API movement is HUGE! You can now reach: Your customers + FinTech ecosystem PSD2 is not compliance its your biggest opportunity
  6. 6. 2.5x Source: Freeform Dynamics, Exploiting the Software Advantage, Lessons from Digital Disrupters, October 2015 Digital Disrupters Outperform their markets 2x 1.5xRevenue Growth New-Business Revenue Profit Growth
  7. 7. Of Banks have either already launched, or plan to launch within the next 12 months, an API initiative Banks are already working on APIs! Source: More Banks Working on APIs in 2016, But Bureaucracy Remains a Problem | Bank Innovation 78%
  8. 8. Become PSD2 ready Banks use APIs today to…
  9. 9. Connect & Collaborate with FinTech Innovators Banks use APIs today to…
  10. 10. Offer Banking as a Platform (BaaP) Services to your customers Banks use APIs today to…
  11. 11. Empower Agile Development of Internal Projects Banks use APIs today to…
  12. 12. Decouple core Systems from the blazing speed FinTech (R)evolution Banks use APIs today to…
  13. 13. It needs a multidisciplinary team Technology + Business + Marketing APIs are not about technology it’s about your Business, Re-Imagined
  14. 14. 64 Princes Court , 88 Brompton Road , Knightsbridge, London SW3 1ET, United Kingdom | Tel. : +44 2071172538 | www.paymentcomponents.com @paymentcomp FinTech API Experts

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