29 May Innopay Launches New Open Banking Monitor
In times when most banks claim to be opening up, is important to know how the open banking landscape is evolving. Innopay follows and shares what is going on in todays open banking landscape, aiming to collaborate in the creation of a healthy ecosystem.
Through their Open Banking Monitor, the payments, e-business and digital identity company, Innopay, follows the progress in the Open Banking landscape to share insights and analysis with interested parties on what goes on in the world of Online Banking.
Open banking is a special type of ecosystem in which retail and corporate costumers have the power to share their financial information with third party providers. For this reason, banks have been opening up, which means that they have been sharing their infrastructure through APIs. It is important to have in mind that regulations play an important role in the open banking landscape. The revised payment service directive, also known as PSD2, is a key driver for this ecosystem. However, open banking looks past the scope of PSD2 and aims to consider further innovation opportunities that can be taken from banks opening-up to TPPs.
Given the importance of banks opening their information, is important to expose the APIs to the public and potential developers. Open banking developer portals, like the one Innopay just opened, give the chance to companies and developers to understand the potential of the APIs that are being released can bring them, boosting innovation and creating a healthy ecosystem.
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