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Unlocking Innovation: Open APIs in Consumer Banking

Explore the role of APIs in financial services and the evolution of Open APIs in the Fintech ecosystem from 1998 to 2015. Learn why banks are embracing Open APIs to compete with Fintech startups, streamline client integration, and drive incremental revenue through innovative solutions.

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Unlocking Innovation: Open APIs in Consumer Banking

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  1. U.S Bank Internal API Hackathon hackathon! Presentation Template Consumer Banking Hack-a-thon APIs and their role in Financial Services

  2. CB Insights: 2015

  3. A Short History of Fintech Disruption 2012/13 2011 2009 2007 2006 1999 1998

  4. Open APIs in the Fintech ecosystem 508 348 312 89 60 15 Programmable Web; 2013

  5. Banks are moving to Open APIs Open Bank Project/Bank Innovation Understanding APIs in Banking report; Oct. 2015

  6. Why are Banks Opening their APIs? • To more effectively partner/compete with Fintech startups to create customized solutions • To provide clients a more streamlined way to integrate and access bank data • Drive incremental revenue by accelerating uptake of value-added services through direct & indirect channels • Harness the power of the developer ecosystem to drive innovation

  7. Key Areas of focus for Banking APIs • Providing access to more data and/or using data in new ways (customer, account or transactional data) • Removing friction from purchases and P2P payments (giving customer payment choices, enabling cross-border payments) • Enabling financial transactions in new channels (Facebook, digital wallets) • Providing digital investing and lending applications (crowd-funding, P2P lending)

  8. Banking and Open APIs – In the News

  9. Barclays offers APIs via Developer Network

  10. Credit Agricole Launches App Store

  11. Capital One Launches new Developer Portal http://www.capitalone.io/blog/hello-great-people/ https://developer.capitalone.com/ http://www.programmableweb.com/news/capital-one-launches-first-true-open-banking-platform-u.s./2016/03/11?platform=hootsuite

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