"Banking is necessary, banks are not," Bill Gates used to say. But 20 years later, banks are still here, stronger than ever. In 2008, they even survived the biggest financial crisis of the last century. However, since 2010, banks have been facing the global digitization of the economy.
There is a solution to keep up with internal agility challenges and external challenges to cooperate with new companies and partners. This solution is the application programming interfaces (APIs).
"In 2000 you needed a website, in 2010 you needed a mobile app, by 2020 you would need an API," John Musser, founder of Programmableweb.com.
Under the recent PSD2 directive that forces banks to open APIs to third parties, banking and fintech players have a great opportunity to lead the market. The industry is ready to host the next generation of financial services: Open Banking. Banks now have a programmable channel to talk to other banks, B2B partners, new companies, and developers to create the next generation of applications clients want.
Experienced leader in product management and marketing. Currently, Product Manager of Cloud Elements, responsible for the market launch strategy, growth, product management and developer evangelization. Our mission is to make integration suck less.
Paul Rohan is a researcher, executive educator, writer and management consultant in payment systems and payment regulations. Paul advises payment institutions and other service providers in the payment and fintech markets. He also consults on business strategy with traditional banks. Paul has a specific focus on helping clients make a successful transition to the Open Banking era.
Founder and former CEO of the first issuer of the UK e-money license to receive MasterCard and Visa licenses.
Through Striding Edge my Payments Consultancy, she provides strategic and operational support to banks and organizations around the world; specializes in prepaid cards, digital wallet and payment platforms.