An application programming interface model for open banking ecosystems
Gary S.D. Farrow
Abstract
This paper proposes a model for an open banking application programming interface (API) ecosystem that supports the expansion of open banking APIs beyond the regulatory minimum. The paper uses specific banking business scenarios as candidates to drive the requirements for a broader set of open banking services. Using the API model framework, specific examples of ‘value-add’ services are identified to support the scenarios. Future market constructs and associated APIs needed to support a burgeoning ecosystem are proposed and elaborated. Barriers to their development and the realisation of a fully functioning open banking ecosystem are also discussed.
Topics & Concepts
Interface (matter)EcosystemApplication programming interfaceComputer scienceBusinessProgramming languageEcologyOperating systemBiologyBubbleMaximum bubble pressure methodDistributed and Parallel Computing SystemsBanking Systems and StrategiesPeer-to-Peer Network Technologies