THE RISE OF THE FINTECHS
LEADERSHIP
40 also need teams to be enabled to use this central catalogue and to know how to discover it , know how to try out an API , to understand , play around , and then to consume it , without having too much dependence on the underlying teams and back end systems as this will cause a bottleneck .”
THE RISE OF THE FINTECHS
While APIs have given banks a tool to compete against fintechs like challenger banks , they have also created an open banking ecosystem which breeds this kind of innovative startup . “ Fintechs come in all shapes and sizes , and banks will want to adopt the right strategy to , yes , compete with them in some cases . Increasingly , however , banks will look to fintechs to partner with . Not all the good ideas can be thought of within a bank , and API strategy allows you to put the capabilities in the hands of people outside the bank who might have great ideas .”
APIs , concludes Healy , are key to the
MAY 2019