The past year has seen a growing interest in open APIs in banking, notably triggered by PSD2 in Europe and the Open Banking Standard in the U.K.
With this research survey, and together with the Warwick Business School and Bank Innovation, we aim to better understand how banks worldwide are prioritizing API initiatives and why. We intended for the query to uncover the drivers behind the banking industry’s current API practices and highlight the most important trends. Our key findings are:
- Open Banking is reaching a tipping point
- Cost reduction & customer satisfaction among key drivers of Open Banking
- Corporate culture is still the main challenge facing Open Banking initiatives, but banks are working on It with some success.
- Europe has taken a clear lead in Open Banking
Download the report today to learn more about Open Banking and how other banks are doing.