/cloud

News and resources on cloud strategy, selection, build, migration and operation for banks and fintechs.

Discussion
AFP 2022: 'L word', a top topic for today’s treasurers
Andrea Klein

Andrea Klein

  May finally be the right time to look at valuing account holder collateral daily or intra day
APImetrics, tomato pay, Finextra report finds neobank API call quality outperforms traditional banks
Ketharaman Swaminathan

Ketharaman Swaminathan

  In Open Banking: EU v. USA, I highlighted one major limitation in the API approach of EU Open Banking versus the Scraping approach of US Open Finance:  "When you use scraping, you can get all the info that the logged user can access whereas, when you use API, you're limited to what the bank provides via API." This report provides another: Overdependency on banking infrastructure in reliability and speed. In short, with API, you're limited to the functionality, reliability and speed provided by bank.  This does not augur well for EU OB Fintechs since their major claim to fame was that they would deliver faster, better and cheaper apps than banks.
APImetrics, tomato pay, Finextra report finds neobank API call quality outperforms traditional banks
A Finextra Member

A Finextra member

  Yes, except the neobanks do not grant full access to spaces/pots etc. Open Banking users aren't able to make responsible credit decisions from them because they don't reflect the full financial picture...
Sibos 2022: Open banking in the UK - it’s high time for a review
John Davies

John Davies

  The regulators are going to need to do more to make Open Banking successful. For example, quicker and more reliable RTP, e.g. an auto-approve limit of £20 similar to the support for contactless. Open Banking is superb, I'm a huge fan and invested in it from a company perspective but the challenge is inconsistent APIs, lack of SLAs, banks blocking Open Banking on their apps or making it difficult. The winners from the PSD2 are the merchants who will ultimately save the 2.5-3% “lost” to networks, acquirers, processors and payfacs, that loss is in double figures on the bottom line. Given the economic squeeze everyone is facing, now is the perfect time to make Open Banking work. CMA9 could perhaps self regulate and move this forward, it will ultimately benefit the country and prove we can at lest do something right in the UK.
Sehrish Alikhan

Manifesting the benefits of cloud migration

Sehrish Alikhan - Editorial Assistant, Finextra