Mandating digital pollygamy dating
When they think of APIs, these banks may think of simply exposing existing services for integration.This perspective limits the value of the data, both for internal innovation and for outside collaborators.These platforms help banks separate the systems of engagement (e.g.websites, mobile apps, system to system communication etc.), from the core, internal systems of record — but they also provide insights into how APIs are being used, tools to facilitate developer access to and understanding of APIs, granular control over permissions, and a host of other features.Into the office stepped Vimal Gawde, an impoverished 75-year-old widow dressed in a floral print sari.She had come to secure her ticket to India’s digital future — to enroll in the identity program, called Aadhaar, or “foundation,” that aims to record the fingerprints and irises of all 1.3 billion Indian residents.On the 13th January, the new Open Banking (OB) regulation in the United Kingdom came into force, mandating compliance with the second Payments Service Directive (PSD2).This is a significant development in the new period of rapid evolution in banking.
Inside the buzzing enrollment agency, young professionals wearing slim-fitting jeans and lanyards around their necks tapped away at keyboards and fiddled with fingerprint scanning devices as they helped build the biggest and most ambitious biometric database ever conceived.
In this way, the APIs are mechanisms for not only exchanging value in digital economies but also gaining the insight to seize opportunities and develop customer obsession.