News
The newest member brings more than 20 years’ experience across banking, payments and data.
Read more
Open Banking and PSD2 are driving a new wave of innovation. To comply with each piece of legislation, banks must allow trusted third parties access to customer account data and the ability to initiate payments. Application programming interfaces (APIs) are the most effective mechanism for achieving this, allowing third-party providers access to banks’ data infrastructures in a way that is both open and secure.
However, banks should not consider these APIs as something needed only to meet regulations, but rather as a route to enhancing service offerings, improving overall customer engagement, and increasing revenue from new channels. An API architecture can help unlock hidden business value buried in legacy platforms and systems, and as a result, is a vital component in all digital transformations.
While many banks have taken initial steps with API implementation and have seen positive returns in terms of technology development, customer engagement, and business expansion, the majority still have work to do. Most are in the development phase, and few fully understand how an API-driven business model will work for them.
Icon Solutions can help your organisation realize the benefits of enabling business functions with APIs to meet regulatory drivers such as Open Banking or to expand services to a wider set of consumers.
We have a proven API capability, accelerated by technical reference assets, and provide guidance on the best design and implementation of an API-centric approach within the context of your wider integration architecture.
Our proven API capabilities include:
Icon delivered initial compliance with the CMA’s regulatory API requirements for Open Banking across our client's Retail and Commercial banking operations in the UK. As a result, they achieved regulatory compliance three months ahead of schedule and faster than any other UK Bank.
Icon designed, developed and led an App-to-App programme which offered no discernible differences between customer journeys. This programme enabled the Tier 1 bank’s customer to use innovative mobile technology earlier than other banks.
Discover why 100% of our clients recommend Icon
News
The newest member brings more than 20 years’ experience across banking, payments and data.
Read more
Blogs
2020 was an unprecedented year for us all, find out some our predictions for 2021 here.
Read more