AIB Opens up APIS to Fintechs and Developers in Ireland

29 de Noviembre, 2018

Tiempo estimado de lectura: 1 minuto

Through open application programming interfaces (APIs), AIB will allow fintechs and third-party providers to access customer data, if customers request it, and offer them financial services directly. Currently, the bank offers two options — accounts, enabling third parties to access customer information on balances and transactions, and payments, which will enable third parties to initiate payments on customers’ behalf. AIB’s latest move follows its successful launch of open APIs in the UK, where over 20 regulated third parties access them, per Finextra. The bank has also initiated an API sandbox to allow interested parties to learn about and experiment with its open APIs. Following the introduction of PSD2 and Open Banking in the UK, major financial institutions are obligated to share customer data, if customers wish, through APIs. Although the final cutoff in Europe is September 2019, by implementing the mandate early, ABI could move ahead of its competitors and provide its customers with access to an array of financial services products. This is likely to help it increase customer retention, especially against the increasing competition from neobanks.

Fuente: Business Insider

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