Leading cash management banks keep on rolling out new API facilities:
- Deutsche Bank accelerates the opening of its IT systems to third-party providers:
- The bank is building an “ecosystem” of application programming interfaces (APIs), which will enable third-party providers such as FinTechs to develop new services and applications using the bank’s client data. In doing so, the bank aims to establish the broadest possible range of applications linked to its data and systems – expanding beyond traditional financial services.
- Deutsche Bank’s investment bank is building on the existing Deutsche Bank Application Programming Interface (dbAPI), which was successfully launched in the private and commercial arm of the bank in 2017, and which is already linked to numerous external applications.
- Deutsche Bank are using Quantiguous Solutions, a Mumbai-based software company acquired by the bank in May this year, to accelerate the development and adoption of APIs globally.
- Citi and Oracle unlock corporate access to treasury services
- The Citi and Oracle ERP Banking as a Service (BaaS) Connector is now available, speeding integration and time to payment for the companies’ joint customers. With this, these organizations will be able to easily access Citi’s Treasury and Trade Solutions services via the Connector.
- The Connector utilizes existing functionality within Oracle ERP Cloud to send payment information securely and directly to Citi without leaving the application. By simplifying these treasury operations, corporations can reduce the need for specialized development resources and complex integrations. And with processes, payment instruments, and country-specific rules built in, customers can cut the overall time it takes to connect Oracle ERP Cloud and Citi, while delivering a seamless corporate payments experience.
API revolution continues with two new US standard APIs being tested
API standardization industry group launches online community to support adoption of standardized APIs AND release two APIs for testing:
API standards: IFX Forum to the rescue with Open Banking APIs Working Group
IFX Forum announces anchor members of Open Banking APIs Working Group: ACI Worldwide, NCR, Oracle, TCS, U.S. Bank, Wells Fargo
APIs are like putting lipstick on pig or a revolution? BUT who standardises chaos?
Now clear that only way Application Programme Interfaces will become a full revolution in financial services if adopt standards. Will this stop the revolution? Who could develop the standards needed?