Assess the Use of Banking API Standards for Competitive Advantage

There is a significant change coming to the traditional centralized identity paradigm.

Open banking regulations are spreading worldwide, but creating APIs for only compliance can lead to poor API uptake and limited business value. Bank CIOs should set the vision for differentiating API products that go beyond regulatory compliance, including leveraging standards such as BIAN and FDX.

The report examines the state of banking APIs in open banking, banking aggregation, and corporate banking. Providing representative use cases of successful banking API strategies, using examples that include ABN AMRO, Standard Chartered Bank and Sicredi Financial Cooperative of Brazil. CIOs will benefit from applying similar approaches to compete with banks and nonbanks.

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