Emerging Trends in the API Economy
Report Summary
Emerging Trends in the API Economy
Open API banking will, over time, transform the industry in every region of the world.
London, 3 March 2020 – The arrival of the API economy has facilitated collaboration among organizations around the globe. APIs enable banks and other financial services providers to share data and access third-party applications using common standards. Technology companies have developed API platforms to support banks in their digital transformation. But how can banks and fintech companies leverage the API economy to create value for their customers and generate new business?
This report helps both banks and fintech vendors understand how open banking and APIs can be monetized, i.e., which fee/revenue share models are available and how these are applied in practice. It is based on a series of telephone interviews, conducted in September and October 2019, with nine digital banking executives from global financial institutions and fintech vendors.
This 27-page Impact Report contains nine figures and one table. Clients of Aite Group’s Wholesale Banking & Payments or Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions Bancorp, BBVA, Fidor, Fiserv, Moven, MYbank, N26, Plaid, Raisin, RBS, Revolut, Solaris Bank, Starling Bank, Simple, Telefónica, Tink, Token.io, TransferWise, TrueLayer, Vaamo, WeBank, Wirecard, and Yodlee.