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.
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.
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.
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.
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.
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.