Long tipped as one of the big technological developments to watch in banking, application programming interfaces (APIs) are a major component of the European Unions’s somewhat controversial open banking project, also known as PSD2. The ambitious plan to bridge the gap between incumbents and challengers in financial services has gained steam in a COVID-19 reality, but so have the security issues that come along with the demand for mobility in a work from home environment.
We take a brief look at the progress of open banking in 2020 and speak with David Stewart, CEO at software firm CriticalBlue, about API security and regulatory considerations. This content requires a Finadium subscription. Articles with an unlocked symbol can be accessed with free registration. Log in or create a free account by signing up here..