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Emergence of Global API Platforms, 2020 - Implementation of APIs has Failed to Help the EU Open Banking Initiative Gain Liftoff

DUBLIN, Jan. 3, 2020 /PRNewswire/ -- The "The Emergence of API Platforms: Open Banking and Payments Drive New Business Models" report has been added to ResearchAndMarkets.com's offering.

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The Emergence of API Platforms: Open Banking Drives New Business Models identifies the technical and regulatory issues that continue to be challenges to lift-off for the European Union's open banking vision and contrasts that situation with the structures that have driven a surge in the availability of cloud platforms that utilize APIs to enable similar services, such as payments.

In a past report we identified the game-changing value proposition associated with internet-based application programming interfaces. This report identifies why the implementation of APIs has failed to help the EU Open Banking initiative gain liftoff even as these APIs have created a surge in the number of cloud-based platforms recently announced, commented the author of the report.

Highlights of the Research Report

  • Identifies six API deployment strategies, including recent platform-as-a-service (PaaS) business models
  • Identifies the issues that have delayed, and will continue to delay, broad adoption of the EU Open Banking initiative
  • Identifies APIs currently available from major U.S. banks as a contrast to the APIs mandated under PSD2
  • Discusses the new cloud-based platform products and services released by Visa and Mastercard that support and challenge the E.U. initiatives
  • Indicates the capabilities needed to deploy a platform-as-a-service solution, which also suggests areas of the PSD2 initiative that need to be strengthened
  • Provides a predictive timeline for API-driven open banking and payments innovation within the European Union
  • Provides a predictive timeline for API-driven open banking and payments innovation within the U.S. market

Companies Mentioned

  • Bank of America
  • The Berlin Group
  • Citibank
  • Citizens Bank
  • European Banking Authority
  • Fidor
  • Financial Conduct Authority
  • Mastercard
  • Railsbank
  • solarisBank
  • Visa
  • Vyze
  • Wells Fargo

Key Topics Covered

Executive Summary

Introduction

New API-Driven Business Models Take Hold

  • API Strategies from Core IT to Open Banking
  • New Business Models
  • New Initiatives Have a Broad Vision of PaaS

Strategic Implications for Payments and Open Banking

  • PSD2 and Open Banking Update: A Shifting Field of Play
  • Obstacles to PSD2 Implementation
  • Can Standardized PSD2 APIs Address the Ever-Expanding Range of Needs?
  • Updated Outlook for the E.U.
  • Updated Outlook for the U.S. Market

Conclusions

List of Figures
Figure 1: Evolution of API strategies in payments and banking
Figure 2: In the U.S., APIs lean toward corporate usage
Figure 3: Platform-as-a service business models are becoming common in banking and payments
Figure 4: Vision of comprehensive platform-as-a-service capabilities
Figure 5: Visa and Mastercard use APIs to create comprehensive new platform-based services
Figure 6: E.U. open banking relies upon government-regulated infrastructure
Figure 7: E.U. open banking's implementation readiness varies
Figure 8: Required functions under PSD2 as presented by the Berlin Group

For more information about this report visit https://www.researchandmarkets.com/r/ae03ko

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Research and Markets
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