Collaboration between FinTechs and FSIs has been standard practice within the Financial Services industry for a while now, but the need for digitalisation has accelerated even more due to the effects of COVID-19. The adoption of Application Programming Interfaces (‘APIs’) as the go-to mechanism for integration, and requirements that Open Banking have placed on banks to build and maintain standard APIs for data sharing and payment initiation by third parties have helped to create a new ecosystem in which partnerships are being spun up more quickly than ever before.
AWS speaks to three FinTech founders who are at the very heart of the API revolution. We discuss how the API economy is reshaping the Financial Services Industry, the current challenges that the new world order has posed, and hear their best practice tips for using technology to support the changing needs of their customers.
Sam Edge (Sr FinTech Business Development Manager, AWS) Nigel Verdon (Co-founder and CEO, Railsbank), Matthew Ford (Partner, Mouro Capital), Francesco Simoneschi (Co-founder and CEO, TrueLayer)