Open Banking PTBR

4 axway.com But perhaps the greater challenge is the uncertainty that APIs will bring to a business model that has proven to be working since the start of the digital age. "Our customers use our mobile and digital banking solutions on average 31 times a month. This is what we are worried about, as that is what we base our business on. We are a full service bank, so we give away a lot of services. For example, we provide free payment transactions because at the end of the day, we want a customer's mortgage "Once you build the infrastructure, you can start to look at it from a business perspective. We could ask, how can we build APIs that can be consumed in other traffic streams? In new channels that could bring us more revenue?" Baard Slaattelid EVP/Director of Banking as a Service SpareBank1 payment. We are also an insurance provider because we want to be part of that customer lifecycle. Our model is that we give you all of these digital tools for free, so we can give you a mortgage," said Slaattelid. Adapting to APIs For Slaattelid, as Director of Banking as a Service, implementing an API strategy has not been a straightforward case of building the APIs and simply installing an API management solution. What SpareBank1 needed was the flexibility to introduce APIs in a way that resonated in their current context, and still enabled them to look to the future. Slaattelid has led three main implementation strategies that involve: • Starting with a technical concern • Building new partnerships with banking entities • Being open to new business models Starting with a technical concern "We are usually a 'build it ourselves' kind of company, so our developers were keen to build an API management layer themselves. But we decided that building it ourselves would take too long and would reproduce the functionality already in the Axway AMPLIFY API Management solution," said Slaattelid. This enabled SpareBank1's internal teams to have the technical capacities of APIs implemented quickly, so that they could focus on the more challenging work that came from their market and business context and could move toward building out their developer portal faster. "Once you build the infrastructure, you can start to look at it from a business perspective. We could ask, how can we build APIs that can be consumed in other traffic streams? In new channels that could bring us more revenue?" Slaattelid said.

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