How APIs Can Enable Digital-First Banking Transformations

  • “This can result in huge windfalls for FIs that take advantage, with some studies estimating those that leverage APIs can see increases in revenue of up to 20 percent more than those that do not.
  • One 2019 report even found that 58 percent of API developers and consumers view standardization as the biggest challenge facing API implementation, up from 25 percent in 2016.
  • Customers are largely receptive of using APIs for greater data sharing as well, with 61 percent of consumers willing to provide open access to their data if it helps them use mobile apps for banking.”

https://www.google.com/amp/s/www.pymnts.com/digital-first-banking/2020/api-digital-bank-transformations/amp/

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