News & analysis from across the industry
Banking and Payments – The Latest Research
The research team at Iliad is always reviewing the analysis in the payments and banking industry, and we like to share what we find. There have been some interesting reports recently exploring trends, and we have produced a quick overview for those looking to keep up to speed with the latest information.
The Future of Banking Depends on Open Banking APIs
The first report is from The Financial Brand which argues that the future of banking depends on open APIs. There is no doubt that APIs are a constant topic of discussion and this analysis contains some revealing insights into the thoughts of executives responsible for established banks and fintech companies.
“According to the World Retail Banking Report 2017, published by Capgemini, fintech firms are more likely than traditional banks to provide consumers with positive banking experiences. That said, more collaboration than ever is taking place between banks and fintech firms, leveraging the benefits that each can bring to the table to create customer-centric solutions. This collaboration has led to the emergence of Open Banking and APIs, using customer data and innovations to create new revenue streams and more contextual services.”
The report can be read here.
The Future of Open Banking: How To Monetise Your Bank’s APIs
For those wishing to learn more about earning revenue through APIs, Capco has produced a report detailing the necessary requirements. Its statistics illustrate that APIs are one of the fastest growing business-influencing technologies in the financial services industry today. Capco claim that to capitalise on the potential of APIs, the main differentiator will be speed-to-market. The goal is to be the first to colonise this open terrain, the first to build a loyal developer base, and, ultimately, first to set the industry standards. The report can be found here and our own article on banking APIs and how their potential can be missed is here.
World Payments Report 2017
The World Payments Report is a study of the corporate and commercial payments industry. It studies the growing demand for value-added services as well as the structural changes that are forcing banks to build payment ecosystems. You can read more here.
The World Retail Banking Report
The World Retail Banking Report focuses on three big topics: how fintechs are satisfying customers more than banks, how APIs are vital to collaboration and the evolution of future business models, and how open banking creates a balance of opportunities and threats. If you work in a large bank or a fintech then the report should provide some useful analysis.
It’s available here.
Digital Transformation, DevOps, and the Future of Testing
If you are looking for guidance on how to acquire all the innovation needed for the evolution of your business, Gartner has a report about Digital Transformation, DevOps, and the Future of Testing. The report talks generically about transforming IT testing for Dev Ops.
However, if you want to know more about testing payment systems for DevOps and APIs, or you want to talk about the best way to launch new technology then please give us a call. If you are familiar with Iliad Solutions you’ll know that we provide the leading test platform for the payments industry. If you are unfamiliar with how we can help you can learn more here.