Open APIs are already transforming customer relationships across the financial world. 

Among other benefits, they:

  • Foster innovation by facilitating partnerships with fintechs
  • Grow your customer base by attracting customers through the API ecosystem
  • Generate new revenue streams for payments institutions
  • Reduce the time needed to build and deploy new applications

In this briefing series, we take a practical look at what this means for payment institutions. We will explore the business perspectives on Open APIs, including the new three-way relationship between the customer, payment institution and third party. We will also give you a deeper understanding of the operational considerations and mechanics behind implementing successful Open APIs.

To gain an expert view, watch our videos here.

Perspectives on Open APIs     The Mechanics behind Open APIs

 

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Perspectives on Open APIs

In an Open API ecosystem, banks will not always manage the end-to-end value chain. In some cases, they will be the manufacturers of products that are distributed by third parties, and in others they may be the retailers distributing third-party products. Hear our experts’ perspectives on how to manage the new three-way relationship between the customer, payment institution and third party.

Explore the key perspectives on Open APIs in the mini-videos below:

The three-way relationship challenge

Understand the new three-way relationship between customer, bank and third party.

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Third parties as a new customer segment

How can banks work with third parties to broaden their offerings and develop new revenue streams.

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Putting the customer in control

By putting the customer in control of their data, and which third-party apps have access to it, banks will enhance their existing customer relationships.

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PSD2 compliance or beyond (Europe)

Payment Services Directive 2 (PSD2) in Europe requires banks to allow regulated third parties to access account information and payment initiation. How can you go beyond the legislative requirements?

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Open APIs – Simplifying the Global Payments Journey for Corporates

FIS’ head of Corporate Liquidity and Bank Treasury discusses how corporations are navigating open APIs and real-time payments.

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Is an API gateway the answer?

An API gateway is an essential component, but not the full solution. Learn what else is required.

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Why you need to be always on

API services need to be able to respond instantly to external requests without encountering delays or impacting the end-user experience.

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Managing two speeds of IT

In this fast-evolving environment it is important to maintain the stability of core, legacy systems.

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What is required to service the developer community?

Banks will need to support the developer community with easy onboarding, access to clear documentation, connectivity to test systems and personalised support.

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Learn more about our Open APIs solutions.

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You might also be interested in PSD2 and Open APIs

The world has embraced "instant" with new real-time payment schemes rolling out around the globe. With PSD2 and open banking regulation setting the pace, banks are actively working on delivering Open APIs to achieve compliance and go beyond the legislation.

Thank you for watching our Open APIs mini-video series

We appreciate your interest in FIS, where each and every day we empower the financial world as the world’s largest global provider of financial technology services. Our commitment to excellence and innovation can keep your company competitive in today’s ever-changing environment.

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