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Open banking APIs are open for business

Insights on Business

The emergence of financial technology (fintech) and the push of regulators for more competition are disaggregating and open this closed value chain. The bank also exposed APIs directly to the merchants so that they could submit payments at a fraction of the cost that they had with traditional card-based payment schemes.

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Finovate Fall 2016 Live Blog – Day 1

William Mills

With CRMnext, replacing a lost card or request a new pin is a one button process. Demo: voice conversation with Alexa, able to ask bank account balance, block cards, pay bills, send money to friends. Built a workflow for the bank so the bank can approve payment and see all compliance and tax information. No other app does that.

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