Agile Adoption in Open Banking: Practical Examples of How the Industry is Driving Open Banking Through API-centric Integration
The nature of financial services is changing with the emergence of new business models based on banking services provided through broad distribution across partner ecosystems. Also, new regulations are pushing towards greater financial services transparency while at the same time opening up the industry to competition from non-banks.
To meet these challenges, financial services organizations have had to shift from a traditional centralized integration approach to a distributed approach, where agility becomes a priority. APIs are part of the answer as they provide development teams with the resources to quickly find, test, and implement new services developed both inside and outside their company. But why is the development of APIs alone not sufficient to enable the rapid adoption of standardized services by the industry? Why do FSI organizations require a comprehensive end-to-end integration strategy?
In this expert panel, you will gain exclusive insights on:
- How platforms leveraging open source frameworks can support optimization for scale and volume while also supporting high-security requirements
- Layered reference integration architecture required to build an effective integration platform supporting Open APIs
- India's UPI initiative and the positioning of platform providers such as Mindgate in enabling banks to quickly adopt new Real-Time Payment standards and open up service offerings for all the payment ecosystem participants
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