White Paper Provides an Open API Survival Guide for Banks
DH Corporation (TSX: DH), a leading provider of technology solutions to financial institutions globally, has published a white paper to guide banks as they consider the impacts and opportunities of open Application Programming Interfaces (open APIs) on their payments businesses.
Titled “Open APIs: A Survival Guide for Banks,” the paper explores the driving forces behind the open API movement, including the proliferation of new immediate payments schemes, regulations like PSD2, and the rise of FinTech service providers. Through real-world examples, it shows how financial institutions worldwide are deploying and benefiting from open API-based initiatives. Balancing time-to-market considerations with the realities of legacy technology environments, it also sets forth a comprehensive roadmap for banks seeking to pursue an open API enablement strategy.
“Open APIs are the vital glue holding together the interconnected ecosystems that will make up the future of banking and payments services, and will serve as a catalyst to foster innovation,” says Veejay Jadhaw, Chief Technology Officer, Global Payments Solutions, D+H. “In strategically approaching the decision on whether – or, more likely, how – to embrace open APIs, a bank can both clarify its future direction and strategy, and also secure its desired competitive positioning in the industry.”
(Source: DH Corporation)