Digital business in any industry is about creating and integrating an extended ecosystem to better serve customers, partners, and even employees. Over the past five to seven years, we’ve seen that organizations have come to understand that APIs are fundamental not just to their technology strategy, but their overall business strategy too. While many banking and financial institutions have moved slowly towards an open API strategy, new regulation and market forces are now demanding that they move more quickly.
Fintech firms already play a significant role in shaping the banking platform of the future, largely because long-standing financial institutions are constrained by legacy systems that can stifle innovation and agility. But, fintech firms lack the customer base of the banking industry, and banking firms have the advantages of stability, trust, and experience navigating regulations and compliance requirements in addition to having access to significant capital. https://goo.gl/qR4bmZ #DataIntegration #ML
