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Industry roundup: 8 June

HSBC releases API developer portal

HSBC has launched an Application Programming Interface (API) Developer Portal, providing customers with direct access to a suite of tools with which they can integrate the bank’s API solutions into their own products, as well as make use of a secure testing environment. The portal is designed to enable customers and developers to find the right APIs for their business needs, access the technical documentation, and try out APIs in the test environment, enabling rapid integration into their own products. 

Initially, the portal will provide access to treasury payment and account information APIs, and a number of APIs for trade processing, custody holdings, bank guarantee status and global disbursements. The portal also allows third party providers in the 15 markets where Open Banking Regulation has been implemented to access payment and account information APIs for retail, business and corporate banking.

HSBC says it will be regularly adding more API solutions to the portal over the coming months, and will continue to make enhancements to the customer and developer experience. Eventually, the portal will house all of the bank’s regulatory and non-regulatory APIs.

"APIs are the future of corporate-to-bank connectivity, and the launch of our Developer Portal is the natural next step," said Nadya Hijazi, head of Digital, Global Liquidity and Cash Management at HSBC. "By opening up our API suite to customers and developers, we’re enabling them to rapidly integrate our solutions into their own products. Embedding our insights into customers’ own businesses will make them more resilient, and less dependent on the limitations of their own technology."

Malcolm Leach, CTO at Flagstone Investment Management, a UK cash deposit platform and the first HSBC customer registered to the new portal, commented: "Pushing the boundaries of technology helps us deliver greater value to our clients, and HSBC’s API Developer Portal gives us access to the right APIs to streamline our integration with the bank. As a result we spend less time working on the technical detail, and we are free to focus on our enhanced proposition."

 

Huawei and Temenos strike technology partnership agreement

Huawei and Temenos have announced a partnership to offer Temenos’ cloud-native core banking solution on the Huawei Public Cloud. Temenos is the first core banking software certified with Huawei infrastructure and Huawei Public Cloud.

Geographically, the partnership covers Asia-Pacific (APAC) with a specific focus on China, and it also includes Africa, Europe, Latin America and the Middle East. The partnership brings together Huawei's cloud hosting, implementation, and integration with Temenos’ banking software. The scope of the partnership covers sales and marketing, implementation and training.

Financial institutions will be able to modernise their core banking systems on Huawei Cloud and benefit from elastic scalability, cost and operational efficiencies. Together, Temenos and Huawei say they will help banks of all sizes to go to market faster, open up new business models, and achieve industry-leading cost/income ratios.

The growing demand for cloud-based models has accelerated during the coronavirus pandemic, as banks require more resilient and agile technology propositions. Cloud has become the established software deployment method for digital-first banks that need to launch fast with minimum IT infrastructure cost. Larger banks increasingly shift to the cloud to incrementally modernise their systems, reduce IT complexity and cost, and gain greater speed to market.

 

Enfuce partners with Visa to enable card issuing for fintechs in 8 weeks

Enfuce is launching a programme in partnership with Visa to enable European fintechs to launch their own payment card offerings cost-effectively in eight weeks. The partnership is designed to let fintechs offer their customers physical and virtual payment cards without having to spend months on the launch, getting the required certifications, or hire in-house experts for business processes mandated by card schemes.

Whether physical or virtual, modern payment cards have created a whole new commerce, business and payments landscape. Fintechs that have introduced their own payment card offerings have been able to monetise their customers’ payments, expand their services and differentiate their brands.

Enfuce allows fintechs to design and launch flexible payment cards that are customisable, and support the latest digital payment features, including Apple Pay, Google Pay and Samsung Pay. Built on the Enfuce payment processing platform, the service allows fintechs to enter new geographical markets and launch new features fast.

Enfuce’s new service is a fully turnkey card issuing service including enablers such as BIN sponsorship, card scheme integration as well as fraud prevention and dispute management. With Enfuce, fintechs can become card issuers in just a few weeks and enable their customers to start paying instantly from applying for their cards.

Visa will support the programme with tokenised multi-currency BINs, which enables Enfuce customers across Europe to launch and scale prepaid and debit card products for both business and consumer customers. Through the service, fintechs will introduce their card products to the market in an accelerated timeline and get a direct commercial advantage in comparison to obtaining their own BIN.

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