Issue link: https://recursos.axway.com/i/1321495
44 Open Banking APIs State of the Market Report 2020 In Europe, the majority of banks are aligning with the Berlin Group standards for PSD2 APIs.Other regulated international markets such as Japan, Hong Kong, Bahrain and Singapore also tend to lean towards using the Berlin Group standards. In the US and Canada, banks are voluntarily choosing the Financial Data Exchange API standard created with industry input. SUMMARY REGULATED INDUSTRY-LED API STANDARD EXTENSIONS UK Open Banking Standards Polish API The Berlin Group (Mostly European) Open Banking Nigeria (Industry collaboration) Stet European, predominantly France & Belgium Financial Data Exchange Swift payments APIs PayLater and Pre-authorisation PSD2 extension APIs Open Bank Project standardised APIs for greater range of functionalities that also align with the Berlin Group standards India Unified Payment Interface Slovak Banking API standard (voluntary) Australian Open Banking API (Consumer Data Standards) New Zealand Standard Payments API API STANDARDS Globally, several regulatory environments have mandated the use of national API standards. There are also several industry-led standards that many banks use as a template for the development of their own APIs. STANDARDS GLOBAL OPEN BANKING PLATFORMS USE OF API STANDARDS Q3 2020 (N=432) Number of platforms Czeck Open Banking Australian Consumer Data Rights Standards Slovakia Banking API Polish API Financial Data Exchange (FDX) API BISTRA NZ Payments Standards UPI Bank's inhouse standards Mexico OBD Pilot UK Open Banking Standards Berlin Group STET 164 1 2 3 3 5 6 6 8 13 14 30 18