The market for financial services is changing fast, and banks
are scrambling to redefine themselves and keep pace in the
digital era.
To evolve, banks are transforming their organizations into
digital ecosystems by disaggregating highly specialized services
to a variety of environments such as the cloud, on-premises,
and software as a service. They also realize they must tap into
the innovation that is happening around them by becoming
digital platforms that serve the larger market through FinTech
partnerships. Application Programming Interfaces (APIs)
are the key to making that platform approach happen by
bridging the boundaries inside and outside these traditional
banking organizations.