{"id":7280,"date":"2017-11-27T06:29:44","date_gmt":"2017-11-27T06:29:44","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=7280"},"modified":"2017-11-27T06:29:44","modified_gmt":"2017-11-27T06:29:44","slug":"the-future-of-banking-lies-in-apis","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/the-future-of-banking-lies-in-apis\/","title":{"rendered":"The future of banking lies in APIs"},"content":{"rendered":"<p>One of the main problems faced by financial companies today is their traditional linearity. In the era of digital transformation, the lack of alternative business models and the high cost of owning a &#8220;closed&#8221; IT infrastructure has brought traditional financial service providers to a crisis and allowed others (PayPal, Apple, Amazon, Facebook, etc.) to exploit their flaws.<\/p>\n<p>The principle of open banking underlies the road forward for banks. Its essence lies in the fact that, instead of cumbersome applications, banks provide their interfaces (APIs), allowing third-parties to create IT services, infrastructures and ready-made solutions. APIs help banks\u2019 flexibly and efficiently integrate necessary platforms, products and innovative services into banks\u2019 value chains and into the traditional IT infrastructure. It also helps increase distribution, flexibility and improved user experiences.<\/p>\n<p>Providers of financial services must give up their historical identity and self-determination if they are to change their positioning in the financial ecosystem and successfully create their own digital culture.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-7280 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Open APIs changing the future of payments'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/open-apis-changing-the-future-of-payments\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/light-trails-above-buildings_1359-714-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9539\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9539'>\n\t\t\t\tOpen APIs changing the future of payments\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='\u201cThe Innovator\u2018s Solution: Creating and Sustaining Successful Growth\u201d by Clayton Christensen and Michael Raynor'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/the-innovators-solution-creating-and-sustaining-successful-growth-by-clayton-christensen-and-michael-raynor\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2016\/10\/51qWWOy59TL._SR600315_PIWhiteStripBottomLeft035_PIAmznPrimeBottomLeft0-5_PIStarRatingFOURANDHALFBottomLeft360-6_SR600315_SCLZZZZZZZ_-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-3677\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-3677'>\n\t\t\t\t\u201cThe Innovator\u2018s Solution: Creating and Sustaining Successful Growth\u201d by Clayton Christensen and Michael Raynor\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Key innovations changing Russia\u2019s financial services industry'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/key-innovations-changing-russia-s-financial-services-industry\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/12\/key-innovations-changing-russia-s-financial-services-industry-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-14205\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14205'>\n\t\t\t\tKey innovations changing Russia\u2019s financial services industry\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>One of the main problems faced by financial companies today is their traditional linearity. In the era of digital transformation, the lack of alternative business models and the high cost of owning a &#8220;closed&#8221; IT infrastructure has brought traditional financial service providers to a crisis and allowed others (PayPal, Apple, Amazon, Facebook, etc.) to exploit &hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[49,287],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/7280"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=7280"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/7280\/revisions"}],"predecessor-version":[{"id":7281,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/7280\/revisions\/7281"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=7280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=7280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=7280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}