“Banking is necessary, banks are not” used to say Bill Gates. But 20 years later, banks are still here, stronger than ever. In 2008, they even survived the biggest financial crisis of the past century. But since 2010, banks are facing a major risk with the global digitalization of the economy: consumers expectations.
There is an organizational and technical solution to keep up with the internal agility challenges and external challenges to co-operate with startups and partners. This solution is APIs, Applications Programming Interfaces. “In 2000 you needed a Website, in 2010 you needed a mobile app, in 2020 you will need an API” John Musser, founder of Programmableweb.com.
Through the recent PSD2 Regulation that forces banks to open APIs to 3rd parties, Banking and Fintech actors have a strong opportunity to lead the market. The industry is ready to host the next generation of Financial services: Open Banking. Banks now have a programmable channel to talk to other banks, B2B partners, startups and developers to build the next generation of applications that customers want.
APIdays is the leading industry tech and business series of conferences in APIs and the programmable economy. As APIs become mainstream, our world becomes more connected, more automated and more intelligent. APIs are the gateway to data, services, devices and emerging technologies. APIs put power into the hands of developers, citizens and consumers.
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