Open Banking and the Future of Financial Services

| July 4, 2017

article image
Open Banking and the use of APIs is fundamental and not to be underestimated. Some banks have chosen to embrace concepts such as R&D and innovation incubation teams, unbundling monolithic IT systems into reusable service with the rising importance of APIs, and banks waking up to the strategic implications, some typical approaches can be observed. The approach an organization selects depends on the organizational history, context, and, more importantly, how they wish to survive and grow. In particular, for large incumbents, where there are different lines of business and entities, they may be acting on more than one approach in parallel across the organization.

Spotlight

RewardCyte

RewardCyte is a division of VirtualCyte Limited. RewardCyte provides customers a convenient and easy way to exchange special vouchers, coupons, products, and services using CyteCoin. CyteCoin is the most popular digital currency on the market that is not only widely accepted by crypto community but also a fantastic way for merchants to continuously interact and retain their customers.

OTHER ARTICLES

Coronavirus Hits Economy. How Fintech is Affected?

Article | March 7, 2020

From stock market swings and billions wiped off of the airlines, hotels, transportation revenues to drug, soap or iPhone replacement shortages – the coronavirus outbreak is taking its toll on many business aspects of life. Euler Hermes calls this a "quarantined trade". The company's analysts estimated that Covid-19 costs $320bn of trade losses every quarter. But what about fintech? It’s not immune to the virus either. As the side effects of Covid-19 will be unfolding in the weeks to come, we’ll see some fintech or finance companies taking hits. But other companies or solutions will be gaining traction.

Read More

Applied Data Science in Fintech

Article | March 7, 2020

Under the supervision of Dr. Mario Gillrich and Maria Pelli, this course explores how new entrants in banking and finance are leveraging new technologies and methodologies to help traditional banks, their corporate clients and consumers use data and algorithms to better manage their financial operations and processes.

Read More

Cash in the time of Covid: why we need to listen to the experts to protect this vital payment method

Article | March 7, 2020

Covid-19 has had a huge impact on almost every area of our lives: from travel to shopping, the economy to health services. Understandably, these are emotive issues – things that we previously may have taken for granted are now being put under enormous pressure at a time when people are very anxious. Amid the uncertainty, there is a danger that some topics may be sensationalised without any real basis in scientific evidence. One of these is the use of cash as a payment method. In recent weeks, several newspapers have questioned whether cash is still safe to use during the pandemic, with some retailers restricting its use.

Read More

Three Ways to Thrive in a Technology-Driven Financial Industry

Article | March 7, 2020

The banking and financial industry is changing at a blinding pace. Advancements in mobile payments, digital currencies, blockchain and innovative lending strategies are causing a radical shift and have challenged nearly every established convention. These new financial technologies (known collectively as “fintech”) are giving rise to new jobs while also changing existing roles and completely displacing some positions in the industry.

Read More

Spotlight

RewardCyte

RewardCyte is a division of VirtualCyte Limited. RewardCyte provides customers a convenient and easy way to exchange special vouchers, coupons, products, and services using CyteCoin. CyteCoin is the most popular digital currency on the market that is not only widely accepted by crypto community but also a fantastic way for merchants to continuously interact and retain their customers.

Events