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Slaattelid gives an example from an emerging solution that is not fully
API-operational yet, but is being worked on by one of the bank's entities: "We
work with a company supplying solar power," says Slaattelid. "So, if you want
to buy solar panels for your energy consumption, you can get a specialized
loan and, via API, that loan amount is attached to your mortgage so we can
reduce the interest on the loan overall. That is a pure business opportunity
for the banks that is becoming possible with APIs."
Within the next two years, Slaattelid believes many more new business
opportunities will arise, but they will only be possible if the technical
foundation is in place, and the organization can adapt in a way that brings
along each bank's unique characteristics and takes advantage of the external
market conditions.
