London, 15 March 2017 – With the revised Payment Services Directive at the doorstep, banks in Europe are working to allow third-party providers free access to payment accounts for payment initiation and account information services. Concentrating on compliance with PSD2 regulatory requirements at present, banks have the opportunity to move from a payment-centric API strategy to a wider transaction banking-based API strategy—if they open their APIs to fintech partners.
This report is based on the results of a late 2016 survey of European banks to gather information on their use of APIs and reviews cases of selected major banks in Europe that are driving their digital transformation journey with fintech partners. These banks are among those leading the charge and setting the direction for the industry.
This 22-page Impact Report contains eight figures and one table. Clients of Aite Group’s Wholesale Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions Barclays, BBVA, BNP Paribas, Deutsche Bank, Nordea, and UniCredit.