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Can APIs deliver the corporate treasurers’ dream?

The Berlin Group’s announcement of a single European API standard on 13th June was followed by Pelican, a global provider of payments and compliance systems for banks and corporates, launching its own ‘plug-and-play’ Open Banking API solution which adds, they claim, “a highly configurable Application Programming Interface (API) management and monetisation capabilities to its Pelican Platform for payment.”

Open banking API solution

The Pelican Open Banking API solution provides “a comprehensive suite of dynamic API capabilities for banks and payment service providers seeking to comply with the revised Payment Services Directive (PSD2), as well as supporting third party providers and developers. It ensures full adherence with PSD2 and Open Banking regulatory mandates to facilitate access to customer account information and payment initiation for authorised third parties.

The Pelican Open Banking API solution is fully integrated with the machine learning and natural language processing capabilities of the Pelican Platform. It provides highly functional real-time payments and compliance capabilities for banks, account information service providers and payment initiation service providers. It will allow them to explore the enhanced new business models and opportunities presented by PSD2, and enable the rapid deployment of innovative value-added products and services. 

Supporting a range of different deployment options and usage scenarios, the Pelican Open Banking API solution is fully integrated with the broad Pelican Platform. Leveraging the company’s extensive experience with the practical application of AI technology, the API integration capabilities span omni-channel customer delivery points, from established platforms such as web and mobile, along with emerging UX interfaces such as voice query and transaction initiation. 

The same dream

At a recent discussion between a group of corporate treasury people about what they really wanted in carrying out their cash and treasury management, they all had different versions of the same thought that, “I want to integrate all the processes - internally and across the group AND with our trading partners - involved in managing my cash and treasury.” This is the dream of what APIs could deliver. Starting with some ‘simple’ processes, e.g. sending payment instructions direct from the ERP systems with no complicated middleware system inbetween.

A recent discussion between a group of asset managers in the City of London revealed the same dream. One manager commented, “I want a dashboard that brings all the information - on our transactions, exposure risks, market pressures and dynamics - together so I can really undersand what is going on.” 

CTMfile take: Maybe APIs will deliver this, maybe not.? But the one thing that APIs are doing is making all sorts of people dream.

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Payments - Receipts
Payments - Disbursements
International Payments

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