Nedbank has started secure programs programming platform (API) to align with Open Bank standards that will allow technical partners to create new digital solutions.
They can use the Nedbank API_Marketplace to "remove" and integrate the bank's data and financial capabilities to the normal, secure and scaleable APIs, he said in a recital.
“These results are innovative and inspiring products and services which provide quicker user experience in shorter times,” said chief information officer Fred Swanepoel.
“Nedbank supports a fundamental change in banking, setting back client data back and empowering them to decide who to share their data,” he said. “This also opens the door to third parties to work with the bank to see digital solutions that have not been seen to be seen in the market. ”
The technical partners include technology companies, cellular service providers and online retailers.
The development comes behind the “Banking Open and PSD2 wave” in the UK and Europe. “These rules manage banks to pass on their monopoly on client data and banking activity to provide more innovative banking and financial services to clients. ”
Approach transparent transparent approach
Although South Africa's banks are not subject to the regulations, Nedbank has taken a decision to create a “bigger and clearer approach to financial services”, he said.
Nedbank provides a range of APIs which adhere to a “standard pattern” to ensure integration is unbroken, the company said.
“The Nedbank API_Marketplace is creating opportunities for disruption to the traditional approach to banking and financial services while maintaining the foundations for the future of the global consumer. , ”said Swanepoel. – © 2019 NewsCentral Media