Co-hosting a Bitcoin Meetup with TheFamily Next Week in Barcelona

January 7th, 2016 |

Join us at the Technical Introduction to Bitcoin meetup – co-hosted by TheFamily and 3scale – on January 13th, at 19:30 at the 3scale office in Barcelona.

I have written a bunch of articles about banks and APIs, describing how APIs will impact tomorrow’s banking. At 3scale our commitment goes beyond just reviewing what is happening – we want to actively support innovation in this industry.

Together with TheFamily, we’ll be co-hosting the Technical Introduction to Bitcoin meetup next Wednesday (January 13th, at 19:30) in our Barcelona office. Not only will this meetup give you an in-depth look at Bitcoin but you’ll learn how to use it wisely. We’ll also provide food and drinks to fuel some more detailed discussion.

Bitcoin is …

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Streaming APIs Are Paving The Way For Real-time, Agile Banking

December 16th, 2015 |

API mashup applications based on streaming technologies will reinvent our banking experience

As I explained in my first post, the PSD2 is about giving banking power back to customers, including increased transparency about charges and speed of operations. Large companies and banks as well as individuals with growing worry of online robbery would welcome real-time notifications that would allow them to react quickly to any fraudulent transactions. As José discussed it in his post, API streaming could be the solution. In addition, the pushed information from these streaming APIs could be used to trigger another API – resulting in a mashup. Mashups have benefited from the growth of publicly available APIs. Developers can pick multiple APIs from this pool to mash up into one, ac…

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Developers Will be the Cornerstone of the Banking APIs Revolution

September 25th, 2015 |

Banks Rely on Developers to Drive Change

Although we’re at the beginning of a new era of open API banking, some banks have already been using APIs for a long time. Banks historically used APIs to connect their internal systems, as well as to connect with external systems such as the core banking system that powers ATMs. However banks face new challenges in exposing APIs publicly, and it seems developers are the key.

Most banks have built their IT infrastructure like Russian nested dolls, building layers around the core banking system. Concerned with security issues and the location of their data, most banks have developed their systems internally, generating high IT costs. Increasingly, it appears that this kind of architecture is drastically hindering banks’ capacity to innovate. Conscious about the necessity of opening up the market to new entrants and creating space for new payments model, the European Commission has been working for a decade on the PSD. As we discussed in a

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Financial Institutions are Embracing APIs

September 15th, 2015 |

Driving Innovation in the Banking Industry

In my last post, we looked at APIs in fintech and how drastically banking will change in the next decade. Yet some banks fear the implementation of the PSD2 (Directive on Payment Services) and the disruption to come. In a recent FIS survey only 14% of European banks planned to comply with the PSD2 from day 1. However banks and other interested parties in this sector started their digitization before the PSD2, and Gartner expects 75% of banks to expose their own API by 2016. A few banks are already successfully using APIs to drive innovation.

For example, Fidor may be the most innovative mobile-only bank in Europe. Since its inception in 2008 after the financial crisis, Fidor has been able to capture a small (~350MM assets) but loyal customer base. It has differentiated itself from…

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European Banking Authority Opens a New Era of Open Banking

September 8th, 2015 |

Required API-based Banking Ecosystem Will Give Customers More Control and Insight

The European Commission (EC) has mandated that banks must provide standardized API access across the EU as part of the Directive on Payment Services (PSD2), a set of rules to modernize payment services. It includes a proposition called Access to Account (XS2A) that requires banks to offer an API to third parties under the supervision of the European Banking Authority. The goal of this directive is to provide a variety of benefits to consumers through a clear, standard ruleset meant to open the market and increase innovation. PSD2 is essentially opening a new era of open banking which is, understandably, causing some concern among traditional banking institutions. Open banking, sometimes referred to as OpenAPI banking, is a term to describe the use of APIs to open access to bank accounts and data to accredited devel…

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