FinTech Magazine May 2019 | Page 37

37 capabilities within their own data centres , but potentially plugging in capabilities from third parties ,” Healy adds .

This doesn ’ t just mean banks can work on their own apps and networks , but they can add their services to another organisation ’ s app – such as adding their loan or insurance offering to the website or supplication of a car dealership for mutual benefit . “ It really extends beyond just the bank ’ s traditional legacy systems ,” says Healy .

APIs and the collaborative open banking landscape they facilitate have really changed the meaning of technology within finance . “ First , we need to understand what technology looks like within banks ,” Healy begins . “ The way the technology landscape has evolved over the last couple of decades hasn ’ t happened with any kind of plan . Technology was accumulated in banks in a project by project way – so today

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