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Five Reasons
Every Bank Needs
an Open API Platform
2 © 2016 CA. ALL RIGHTS RESERVED.
The application economy is creating the need for digital transformation
throughout the p...
3 © 2016 CA. ALL RIGHTS RESERVED.
Most banks understand the importance of digital and many realize the key
role of applica...
4 © 2016 CA. ALL RIGHTS RESERVED.
Many APIs are simple backend integration tools. Even those APIs that
are used to build c...
5 © 2016 CA. ALL RIGHTS RESERVED.
Rather than being created ad-hoc in order to meet immediate needs,
these APIs will form ...
6 © 2016 CA. ALL RIGHTS RESERVED.
It’s the Law
Increasingly, regulatory requirements like PSD2 are compelling banks to giv...
7 © 2016 CA. ALL RIGHTS RESERVED.
Your Choice: Disrupt or Be Disrupted2
Even if regulations were not forcing banks to open...
8 © 2016 CA. ALL RIGHTS RESERVED.
Customer Expectations are Changing3
Banks need to address these realities simply because...
9 © 2016 CA. ALL RIGHTS RESERVED.
You Have to Be Ready for Anything4
Creating open APIs as and when regulations or custome...
10 © 2016 CA. ALL RIGHTS RESERVED.
Staying Ahead Requires Momentum5
Traditionally, IT in banking is monolithic. But as the...
API-Driven Innovation in Banking and Finance
How Finance Institutions are Transforming the Customer Experience
To take a d...
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Five Reasons Every Bank Needs an Open API Platform

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In the financial sector, digital transformation is an urgent concern. For banks, a best-in-class app can mean the difference between retaining a customer and losing them to a competitor. Many banks understand the key role APIs will play in any digital strategy but much of the industry is still lacking in maturity when it comes to their API programs.

To flourish in the digital age, a bank must offer open APIs, accessible to partners and third-party developers. These APIs will form the foundation of a new IT platform that will make it possible to quickly seize emerging opportunities. Here are five reasons why building a banking platform with open APIs will prove essential to banks focused on competing in the app economy.

API-Driven Innovation in Banking and Finance: How Finance Institutions are Transforming the Customer Experience

To take a deep dive into the specifics of how a digital strategy based on open APIs and platform thinking will empower the most innovative banks to win in the application economy, download this new eBook from CA Technologies.

Get the ebook here: http://cainc.to/9IHDw5

Published in: Technology
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Five Reasons Every Bank Needs an Open API Platform

  1. 1. Five Reasons Every Bank Needs an Open API Platform
  2. 2. 2 © 2016 CA. ALL RIGHTS RESERVED. The application economy is creating the need for digital transformation throughout the public and private sectors and across all vertical industries. Nowhere is this need more urgent than in banking, where a best-in-class app can mean the difference between retaining a customer and losing them to a competitor. Digital Transformation in Banking 2 © 2016 CA. ALL RIGHTS RESERVED.
  3. 3. 3 © 2016 CA. ALL RIGHTS RESERVED. Most banks understand the importance of digital and many realize the key role of application programming interfaces (APIs) in making services available on mobile devices and the Web. But much of the industry is still lacking in maturity when it comes to their API programs—stuck on creating ad-hoc APIs that digitize simple functions. Any bank that wants to truly succeed in the application economy will need to build a new technology platform based on a firm foundation of open APIs. 3 © 2016 CA. ALL RIGHTS RESERVED.
  4. 4. 4 © 2016 CA. ALL RIGHTS RESERVED. Many APIs are simple backend integration tools. Even those APIs that are used to build customer-facing apps are often not made directly available to anyone outside the organization. But to flourish in the digital age, banks must offer open APIs that can be accessed and leveraged by partner organizations and even third-party app developers. Opening Up With APIs 4 © 2016 CA. ALL RIGHTS RESERVED.
  5. 5. 5 © 2016 CA. ALL RIGHTS RESERVED. Rather than being created ad-hoc in order to meet immediate needs, these APIs will form the foundation of a new IT platform that will make it possible to quickly seize emerging opportunities. Here are five reasons why creating a banking platform built with open APIs will prove essential to banks focused on achieving true digital transformation and competing in the app economy. Building the Banking Platform 5 © 2016 CA. ALL RIGHTS RESERVED.
  6. 6. 6 © 2016 CA. ALL RIGHTS RESERVED. It’s the Law Increasingly, regulatory requirements like PSD2 are compelling banks to give authorized third-party providers access to customer information, which means creating and securing open APIs. 1 Banks should not see this is as a chore—instead, they should embrace it as a chance to open up their services to the many opportunities waiting in the digital future. The revised EU Payments Services Directive (PSD2) requires financial institutions to open their customer information to third-party providers. 6 © 2016 CA. ALL RIGHTS RESERVED.
  7. 7. 7 © 2016 CA. ALL RIGHTS RESERVED. Your Choice: Disrupt or Be Disrupted2 Even if regulations were not forcing banks to open up, digital would still be changing the way people managed their money, as well as creating competition from unexpected places. To stay competitive, banks must partner with providers of new products and connect their services with the network of interactions that increasingly comprises life in the digital age. 7 © 2016 CA. ALL RIGHTS RESERVED.
  8. 8. 8 © 2016 CA. ALL RIGHTS RESERVED. Customer Expectations are Changing3 Banks need to address these realities simply because their customers expect and want them to. Consumers have come to expect the level of convenience offered by the Web and mobile apps. Therefore, banks cannot afford to cut their services off from the ever bigger and more complex ecosystem of connected devices, apps and services that enable this level of convenience. 8 © 2016 CA. ALL RIGHTS RESERVED.
  9. 9. 9 © 2016 CA. ALL RIGHTS RESERVED. You Have to Be Ready for Anything4 Creating open APIs as and when regulations or customers demand is not sustainable. With digital technology evolving at a extraordinary rate, banks must be fundamentally more agile. This can only be efficiently achieved by building an API-enabled platform, upon which lightweight microservices can be quickly and easily developed, integrated and repurposed. 9 © 2016 CA. ALL RIGHTS RESERVED.
  10. 10. 10 © 2016 CA. ALL RIGHTS RESERVED. Staying Ahead Requires Momentum5 Traditionally, IT in banking is monolithic. But as the API-enabled platform makes it possible to break more common functions into lightweight modules, the more innovation accelerates. Platform-based banks can achieve greater economies of scale and gain an exponentially bigger head start on their less agile competitors as the speed of innovation accelerates. 10 © 2016 CA. ALL RIGHTS RESERVED.
  11. 11. API-Driven Innovation in Banking and Finance How Finance Institutions are Transforming the Customer Experience To take a deep dive into the specifics of how a digital strategy based on open APIs and platform thinking will empower the most innovative banks to win in the application economy, download this new eBook from CA Technologies. Read eBook 11 © 2016 CA. ALL RIGHTS RESERVED.

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