APIs

As much as payment companies love to talk about opening up their platforms, there's definite room for improvement.

The FS-ISAC hopes banks and data aggregators will adopt the updated standard for sharing customer account data.

The concept of a digital payments platform that taps into consumer bank accounts is an old one. But there are still opportunities to implement it in new ways.

Plenty of U.S. banks already have their own robust API programs, but research by Nacha, the electronic payments association, indicates that the differences in their approaches could slow the banks' ability to synchronize with global fintech development.

Celent analysts Alenka Grealish and Stephen Greer explain how banks in Europe and the Netherlands have built business models around open banking.

The few U.S. banks embracing data sharing say the industry is moving toward the standard.

Bank of America Merrill Lynch has launched an application programming interface (API) gateway available to third-party fintech providers, as part of preparations for Europe’s PSD2 regulations that went into effect this month.

Enterprise customers will be able to send payment data to the bank through an application programming interface, rather than as XML or Swift files.

Dan Kimerling, founder of Deciens Capital, explains why it would make sense for U.S. banks to accept open banking.

If your billing and payments system has API integrations it makes it easy for your most valuable business asset, your customers, to do business with you, writes Martha Salinas, senior vice president at Multi Service Technology Solutions.