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
Naismiths and Hodge Bank support restoration of WWII-damaged building
National property consultancy and surveyors Naismiths has been appointed by Hodge Bank to monitor the restoration of a Grade II-listed building in Bristol city centre.
Atom introduces first-time buyer range
Atom bank has launched new first-time buyer products and extended its existing range by adding 95% LTV mortgages across all its existing mortgage products.
Charity Bank names new chief executive
Charity Bank has announced that Edward Siegel (pictured above) will become its new chief executive.
Investec relaunches flexible E-asy access account
Investec Savings has announced the relaunch of its E-asy access account with a new rate.
Temenos launches AI-based capability to protect banks from fraud
Temenos has expanded its financial crime mitigation product to include an AI-based suspicious activity prevention solution protecting banks and their customers from fraud.
Welsh businesses secure £68m from development bank
The Development Bank of Wales has reported that it has increased investment in Welsh businesses by £11.5m.
Leek United Building Society launches exclusive BTL product
Leek United Building Society has introduced a two-year buy-to-let fixed rate product available exclusively to TMA Club for directly authorised advisers.
What can we learn from the tech C-suite?
There has always been a cultural tension between IT and businesses.
Banco BNI Europa partners with Lendrock
Banco BNI Europa has announced a partnership with Lendrock to invest in the Spanish auto financing sector.
Secure Trust Bank joins Connect panels
Secure Trust Bank has joined the panel of Connect for Intermediaries mortgage network and the latter’s packaging arm.