A great read from our Director of Growth Linda Wollgast on the critical role of APIs in the financial industry and the future of data access! 👏 The collaboration between apinity and Taylor Wessing Germany highlights just how pivotal robust, standardized APIs are for implementing FIDA use cases. As the EU Parliament pointed out in the FIDA proposal, many financial institutions are lagging in their API adoption, yet APIs are the key to unlocking financial data’s full potential. 🌍 It’s time for financial institutions to embrace API-driven models, prioritize API infrastructure, and shift toward productization to stay competitive in the evolving landscape. As Linda perfectly put it, "No APIs, no party!" 😎 #apinity #APIs #Innovation #FiDA #DataAccess #OpenBanking #OpenInsurance
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Last week, we partnered with Taylor Wessing to explore the applications of the FIDA regulation. Robust and standardized APIs are essential for successful implementation, as highlighted by the EU Parliament, which emphasizes the need for high-quality APIs to ensure effective data access. Currently, only a minority of financial institutions utilize APIs, resulting in limited market demand and innovation. To change this, financial institutions must: 🚀 Adopt high-quality APIs - to stay competitive. 📦 Productize their APIs - transforming them from mere technical tools into marketable products. 🤝 Collaborate across sectors - to develop customer-centric solutions. The future of finance relies on open and interoperable data, making APIs crucial for progress. Remember, no APIs, no party! #apinity #APIs #Innovation #FiDA #DataAccess #OpenBanking #OpenInsurance