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The Magic of Open APIs

As European banks can't stop talking about open APIs, further discussion over the matter throws light on opportunities open APIs have in store for the banking industry, businesses and customers. Open APIs are at the core of open banking, which comes with enabled access to data for all relevant participants of the market. While the access to one’s own banking data will enable consumers to make better choices of financial products and ensure the best available terms for the relatively young startup community, it will enable the opportunity to build better products and services.

But most importantly, for financial institutions, openi ...

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