Opportunity and Risk: How Open APIs Are Transforming Banking presented at SecureWorldStLouis 2020

by Don Peterson,

Summary : Do you know what an Open API is? The data shows the majority of Americans don’t. Open/ public application programming interfaces (APIs) are the engine that power Open Banking, something that has transformed banking around the world the last couple of years. It is on the radar of banks in the United States and in practice in some. Open APIs enable the exchange of customer data with other parties in a simple and secure way, facilitating rapid innovation in products and services. Countries are creating laws and regulation around this practice. This innovation and opportunity potentially carries security risk.