Open Banking & APIs:

A Selection of Use Cases

Drivers

Regulatory

• PSD2

• Open Banking

Commercial

• Deepen relationships

• Customer stickiness

• Enhanced understanding of customers’ financial lives

• Profit-share/referral opportunities

• Better fraud/risk/credit management

2http://nordicapis.com/fintech-and-apis-making-a-bank-programmable/

Why Openness?

According to Stefan Weiss, Head of APIs at Fidor, the bank decided to

build its platform with third-party developers in mind for the following

reasons:

• A bank API supports a quicker onboarding experience for end users

• An API enables a bank to acquire partners that specialize in niche

fintech services with optimized front-end user interfaces

• A bank API allows seamless integration with banks-as-a-

marketplace, payment, investments, and accounting apps, and more

— great for startups with innovative financial-oriented products that

may lack the budget and legal counsel to hold funds or establish

their own bank

• An open API is a way for new banks to attract more customers,

more deposits and more transaction volumes

3http://nordicapis.com/fintech-and-apis-making-a-bank-programmable/

API Use Cases

Fidor

Bank

The Fidor Operating System (fOS)

is an open digital banking platform

built to integrate legacy and

modern fintech systems via a

managed API gateway.

• Banking as a Platform

• White Label Bank

• Payments as a Service

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API Use Cases

BBVA

API Market

Accounts allows you to access key

account data and enhance

financial management services.

Payments allows third party apps

to offer money transfer services to

pre-authorized users.

PayStats allows third parties to

access BBVA cards purchase data.

Customers lets you easily create,

retrieve and update customer

records in our banking core.

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API Use Cases

Bud

Account Aggregator

Bud is a website and app that

connects your bank accounts and

credit cards in one place.

The platform connects users to

additional financial products and

services such as pensions,

insurance, currency exchange,

investments, savings, mortgages

and more.

Cross-selling

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API Use Cases

Penta

SME Bank

Penta has partnered with

solarisBank, a white-label banking

platform, to offer businesses fast

access to bank accounts. Penta’s

business customers will be able to

sign up for a bank account within

minutes, giving them access to a

deposit account and payment

cards.

Customer acquisition engine?

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API Use Cases

Railsbank

API Platform

Via the Railsbank API, fintechs can

access banking services including

creating digital ledgers, connecting

digital ledgers to real bank accounts,

issuing IBANs for ledgers, receiving

money, sending money, converting

money (FX), collecting money (direct

debit), issuing cards, and managing

credit.

“Access to global banking in 5

lines of code.”

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API Use Cases

Xero Accounting

Cloud-based SME Accounting

Xero is online accounting software

for small businesses. Use Xero to

manage invoicing, bank

reconciliation, bookkeeping &

more. Xero offers an API to allow

third-party apps to query

companies’ accounting data and

leverage it for a range of business

uses.

How long until a bank integrates

with Xero?

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API Use Cases

Acorn

Automatic saving

Acorn connects with your bank

accounts via API to monitor your

spending, round up purchases

and investing the excess –

automating your saving and

helping you achieve financial

heath.

Savings/investments

automation & financial health

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API Use Cases

Fino

Account Switching Service

In the UK, the Current Account

Switching Service automates

account switching. Not all countries

have this service. Fino allows

customers to switch bank accounts

(open new account, move direct

debits, notify payees and senders)

via an API-powered app.

Account switching

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API Use Cases

Debitoor

Accounting and Invoicing

Simple, cloud-based billing and

accounting software for

freelancers, small businesses and

the self-employed. Covers all

important functions, from preparing

quotations to VAT returns. Using

figo, the user can integrate bank

accounts directly into the

accounting program.

Bank & accounting integration

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API Use Cases

Fincite

Investing Solution

Via API, Fincite offers access to

over 120 algorithms for individually

chosen recommendations for

savings and investment. Fincite

can analyze a customer’s financial

situation in its entirety and offer a

personalized savings and

investments action plan.

Bespoke investments for mass

market

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API Use Cases

O2 Banking

Telco Bank

Telefonica-owned O2 became the

first mobile operator to launch a

mobile-only bank account, in

cooperation with Fidor Bank. The

account offers mobile banking

transactions, including via mobile

phone numbers, small instant

loans, a MasterCard debit card

and free data credit for users.

“Telco Bank” with no need for

license

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