A major theme that we track on Daily Fintech is the “programmable bank”, how innovation is enabled by APIs that abstract complex layers of utility services so that innovators can focus on “rebundling” (creating new UX based on integrating unbundled best of breed services). We are also big believers in the open source model of knowledge co-creation that was the concept behind Fintech Genome. This wiki on Fintech Genome is where those two threads come together. You can see the chronological story, starting with a simple question, followed by the community kicking into contribute more knowledge. Help us get the job complete. You can contribute via comments and then somebody edits the wiki. Or, Once you reach Level 1 on Fintech Genome, you can directly edit a wiki and that is obviously more efficient. (Read this to understand Levels on Fintech Genome. Don’t worry it is very easy to get to Level 1).
Why Banking APIs matter to the acceleration of Fintech innovation
Banks that want to transform into Fintech-like transaction banking platforms do so by exposing all the services they offer via APIs. This enables a lot of innovation because Banks or Fintechs operating higher up the stack do not need to all build/buy this utility layer.
Current Snapshot of the Banking API Wiki
This is a work in progress. Go to this thread on the Fintech Genome to see the current state.
Tools & Platforms:
F2 Framework https://www.openf2.org
Plaid – https://plaid.com/ – a tool that enables applications to connect with user’s bank accounts. Should get a big boost from PSD2.
3rd party providers
Coverage: UK, Poland, Czech Republic, Slovakia, Spain, Portugal, Mexico, Brazil, Russia.
Banks (listing by HO location, most operate in multiple countries).
France: BNP Paribas Open Bank Project11
Coverage (BNP Paribas Group Banks only): UK, US, Poland, France, France, Turkey, Italy
Spain: BBVA Compass
UK: Mondo https://getmondo.co.uk/docs/
Singapore: OCBC https://api.ocbc.com/store/
Wealth Management Focus
How you can contribute
On Daily Fintech, we publish snapshots of what we learn on the Fintech Genome. You can stay at this summary layer or dive deep into the subject by going into the Fintech Genome.
You can contribute in three ways depending on how much you want to get involved.
- Comment here on Daily Fintech. No need to register (Daily Fintech is ungated). However if you want to have your contributions recognised within the global Fintech community, you may want to take a minute to register with your real ID on Fintech Genome and contribute there.
- Comment on this thread on Fintech Genome. The chronological contributions are always visible here. So your knowledge in this area is recognised by Fintech leaders.
- Directly edit the wiki that you see on this thread. Scroll down till you see the wiki and then click on the wiki icon. This is the most efficient way to aggregate knowledge that we know of (as Wikipedia has demonstrated).
Fintech thought-leaders who contributed to the Banking API knowledge include:
Daily Fintech Advisers provides strategic consulting to organizations with business and investment interests in Fintech & operates the Fintech Genome P2P Knowledge Network. Bernard Lunn is a Fintech thought-leader.