APIs could unlock much needed banking industry transformation

APIs could unlock much needed banking industry transformation

Banks will need to open up their transactional data via API in order to maintain their foothold in a financial services ecosystem that is halfway through a decade-long industry-wide disruption, PayX CEO Adrian Hausser said Tuesday at the API Academy’s API360 Summit in London.


Hausser’s company, PayX, is a global advisory firm that works with top-tier banks and payments businesses. He says a customer service revolution is under way in banking, being led by changing trends in the ways millennials perceive banks. On a global scale, over the past 50 years, banking has become a science that operates on a life cycle model. Banking has traditionally known that customer engagement with banks occurs across the life cycle (from cradle to grave), but that the real opportunities to provide financial products come with the college-aged population when people are at their greatest income and wealth potential…

Read the post in full at ProgrammableWeb.com

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