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API-Driven Innovation

Open banking and open finance present a significant opportunity for enhancing customer experience and innovating new business models and revenue streams. APIs play a crucial role in achieving these goals. But before leveraging APIs, three key aspects must be addressed: simplifying existing backend systems for seamless integration, enhancing data security to ensure safe customer information sharing, and adopting universal standards to foster collaboration with fintechs.Ā 

 

Blanc Labs’ API strategy principles address every aspect of this process and help you unlock the full potential of your technology infrastructure to drive successful business outcomes.

Prepare for Open Banking and Open Finance

Beyond technical aspects, Open Banking is essentially a strategic business decision, centered around competing and succeeding in the evolving banking landscape. Our Open Banking & Open Finance readiness framework evaluates your preparedness for participating in this new and dynamic financial ecosystem.

Update Core Systems

The first step is to audit your core and digital banking systems to ensure they are seamlessly compatible with new technologies. With both web-banking and mobile banking platforms catering to retail and commercial customers, most of your process should be automated to minimize manual intervention. Additionally, your core banking systems should be built on cloud-native architecture. Blanc Labs will make recommendations and create roadmaps for how to update your core systems. We also have solution engineering and implementation capabilities to execute on the roadmap.

Identify Business Cases

It is important that your organization is keen on investing in an API-led ecosystem that will capitalize on data monetization. In this next step, Blanc Labs will help you identify specific open banking and open finance use cases that meet your strategic and business goals.

Partner Roadmap

Keeping your technology and business goals at the forefront, we will guide you through collaborations with other financial institutions and non-banking entities, with recommendations on how to enhance data utilization, establish market value, and create innovative offerings for your customers.

Standardize and operationalize APIs

The final step in the process is to standardize maintenance, security, governance and management of APIs, and put in mechanisms to track and monitor their performance. With expertise in API Management platforms, we help you ready your API ecosystem to support third-party use and enable agile data partnerships.

Winning the Open Banking Race

A Challenger’s Guide to Entering the Ecosystem Economy

The Benefits of API-driven innovation

The Benefits of API-driven innovation

The Benefits of API-driven innovation

Enable intelligent decision-making and strengthened business security by leveraging analytics and machine intelligence for data mining.

Create and deploy innovative digital-native business models.

Monetize your data. Create new revenue streams.

Bridge the gap between legacy systems and new technologies.

Embrace the ecosystem approach to finance.

Take your ideas to market faster and at lower costs.

Open Banking and Open Finance Insights

Financial Services
Core Banking
Digital Banking
Articles

What Is Composable Banking and Why Should I Care?

December 09, 2022
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Financial Services
API Management
IT Management
Company News

Blanc Labs and Axway partner up to provide integrated open banking solutions for all

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Articles

Open Banking API Challenges: 4 Areas That Need Intervention

June 29, 2022
Learn More
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API Management
IT Management
Articles

Are your APIs causing more pain points instead of solving them?

June 22, 2022
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Financial Services
Digital Banking
Digital Transformation
Articles

Three Reasons Financial Institutions Are Losing Out to FinTechs

June 16, 2022
Learn More
Financial Services
Core Banking
Digital Banking
Articles

What Is Composable Banking and Why Should I Care?

December 09, 2022
Learn More
Financial Services
API Management
IT Management
Company News

Blanc Labs and Axway partner up to provide integrated open banking solutions for all

October 05, 2022
Learn More
Financial Services
API Management
IT Management
Articles

Open Banking API Challenges: 4 Areas That Need Intervention

June 29, 2022
Learn More
Financial Services
API Management
IT Management
Articles

Are your APIs causing more pain points instead of solving them?

June 22, 2022
Learn More
Financial Services
Digital Banking
Digital Transformation
Articles

Three Reasons Financial Institutions Are Losing Out to FinTechs

June 16, 2022
Learn More
Financial Services
Core Banking
Digital Banking
Articles

What Is Composable Banking and Why Should I Care?

December 09, 2022
Learn More
Financial Services
API Management
IT Management
Company News

Blanc Labs and Axway partner up to provide integrated open banking solutions for all

October 05, 2022
Learn More
Financial Services
API Management
IT Management
Articles

Open Banking API Challenges: 4 Areas That Need Intervention

June 29, 2022
Learn More
Financial Services
API Management
IT Management
Articles

Are your APIs causing more pain points instead of solving them?

June 22, 2022
Learn More
Financial Services
Digital Banking
Digital Transformation
Articles

Three Reasons Financial Institutions Are Losing Out to FinTechs

June 16, 2022
Learn More

The Future of Banking is Open