Fidor Bank has been recognised as one of the pioneers in the use of open APIs in banking, according to a new study.
A report by Celent – APIs in Banking: Unlocking Business Value with Banking as a Platform – has acknowledged Fidor for its innovative and differentiating customer experience.
Celent had previously named Fidor as Model Bank of the Year 2015.
The report highlighted Fidor's commitment to collaborate through APIs, demonstrated in five ways:
1. open APIs for marketplace ecosystem
2. open APIs and sandbox for educational purposes
3. open APIs for cryptocurrency
4. open API for incumbent banks and consumer-led organisations
5. open API for B2B fintech partners
Patricia Hines CTP, senior analyst of corporate banking at Celent, said: “Fidor states that it is the oldest fintech, and its early adoption of an Open Banking approach makes it the most experienced bank in building APIs.
“The bank counts today hundreds of available APIs that enable the creation of new revenue models and business concepts.
“Fidor is redefining the customer experience by taking advantage of architectural openness, partner ecosystems and a community focus.
“With a focus on innovation and years of experience operating as an open bank, Fidor created the first direct-to-consumer marketplace providing over 50 fintech, insurtech and tradetech offerings to its customers.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
300 companies sign up to Women in Finance Charter
A total of 300 companies have now signed up to HM Treasury’s Women in Finance Charter....
Hanley Economic offers self-build product in Scotland
Hanley Economic Building Society has extended its self-build and residential mortgage offerings into Scotland with immediate effect...
Why it’s important to encourage female entrepreneurs
On Women’s Entrepreneurship Day, we honour women in business, their fearless ambition, their achievements and successes...
TSB names new CEO
The board of TSB Bank PLC – with the support of Sabadell – has announced that Debbie Crosbie (pictured above) will become its new CEO in 2019, subject to regulatory approval...
Tandem opens community beta testing for autosavings
Tandem has invited its existing app users to join its autosavings beta testing community to help test its new proposition...
Secure Trust Bank enters Right to Buy market
Secure Trust Bank Mortgages (STB) has launched into the Right to Buy market with a range of mortgages for tenants looking to purchase their existing home...
Starling announces partnership with the Post Office
Starling Bank has announced that it has partnered with the Post Office as it looks to offer every day banking services to its customers...
Close Brothers appoints new NED
Close Brothers Group PLC has named Peter Duffy as an independent non-executive director...
What’s missing from the specialist banking market?
Two months ago, Specialist Banking published a feature looking at whether there was room for more banks in the sector...
TransferWise secures £65m syndicated debt facility
TransferWise has completed a £65m syndicated debt facility with NatWest, JP Morgan and LHV Bank...
EedenBull AS names non-executive chairman
New fintech company EedenBull AS has appointed Jeremy Nicholds as its non-executive chairman of the board...