fbpx
Download the OWP App here!
  • By Category

  • By Type

  • Reset Your Search

More
  • By Category

  • By Type

  • Reset Your Search

Banking with Open APIs

Banking with Open APIs

Hi! My name is Matt and I’m a financial professional.

Our world is becoming increasingly connected which has made it essential for companies to offer customers services that make their lives easier and more enjoyable, whenever and wherever they choose. Closed legacy platforms at most banks are severely restricting these organizations from adapting to the changing customer landscape.

Using open APIs can enable your institution to create new products and business models faster, reduce the costs of legacy system integration, and monetize the assets that have traditionally been locked in. While the term open APIs scares many business leaders, there are different kinds of open APIs to use, each with their own consumers, providers, goals, and controls.

Private Open APIs

Private Open APIs are programmatic interfaces that are exposed and used in order to create and maintain applications completely within an institution. They could be low-level APIs that integrate with the core banking systems or higher-level APIs that are used by business analysts to compose new functionalities.

Partner Open APIs

Partner Open APIs are created in order to integrate with a select ecosystem of partners, typically to implement specific functionality, products or services on behalf of the consumer. These are operational points of integration which can include SLAs, governance, and security.

Public Open APIs

In order to encourage innovation, or to monetize institutional data, banks may create public APIs to allow 3rd party firms to access those resources. These access points are more limited in access and are tightly secured.

Thanks to the variety of open APIs you can choose from, your bank can now have robust governance of an API environment to achieve success without sacrificing the reliability and quality of service.

If you want to learn more about banking with open APIs, click the link below for more information.


Disclaimer: By downloading this whitepaper from onlinewhitepapers.com, you will automatically be subscribed to our weekly newsletter. If you do not wish to receive our weekly newsletter, please unsubscribe using the link available in the newsletter. Unsubscribing from our newsletter will not affect your ability to download future whitepapers. Thank you. ( View our email privacy policy here. )

Get Your Whitepaper in Front of Millions of Readers and Buyers.

Publish your whitepaper with us. We have flexible plans to suit every company size and budget.
Choose the one that works for you and submit today.


This website uses cookies to ensure you get the best experience on our website. Privacy Policy