API Strategy for Open Banking
API Strategy for Open Banking
Insights and case studies from leading open banking experts and API strategists.
About the Book
Within API Strategy for Open Banking, we present a holistic API perspective on open banking. We cover PSD2, open banking benefits, developer experience tips, frameworks for high-grade security and access management, and more. We've featured best practices and case studies from some of the world's largest open banking initiatives.
PSD2 EU regulation unlocked consumer data, spurring an open banking global response. Making the bank programmable is a win-win-win for banks, developers, and end consumers, but simply being an API provider doesn't guarantee an open banking advantage. It requires "API thinking" to take a holistic outside perspective that considers developer consumer needs. As banks treat their assets more like products, monolithic infrastructure is decomposing into an amalgamation of reusable components.
The financial industry has opened up, to much excitement. However, not all open banking initiatives are successful. In fact, 92% of consumers haven't heard of open banking. So how do we make them care? Banks can encourage adoption by improving the developer onboarding process and evangelizing an internal API mindset. Within API Strategy for Open Banking, we cover business reasons to adopt API-first open banking and see how open banking is being adopted in the EU, US, and UK markets.
API Strategy for Open Banking also describes how to adopt an API specification like OpenAPI to organize and standardize API design practices. It also considers how API security open standards like OAuth and the OpenID Connect FAPI profile can be used to track identity and keep open banking architecture secure.
About the Editor
Table of Contents
- Foreword: Embracing Open Banking
- Preface: APIs Support the Open Banking Movement
-
The Premise of PSD2 And Open Banking
- Open Banking: The Premise and Promise
- What PSD2 Means For Banks
-
6 Reasons to Embrace an API Strategy for Open Banking
- 1. Compliance
- 2. Improved Digital Agility
- 3. Premium API Products
- 4. Increased Customer Satisfaction
- 5. Potential for Collaboration
- 6. Wider Client Base
- Conclusion
-
Bring on the Players: Who Wins in Open Banking?
- What Open Banking Really Means
- Comply-first Providers
- Protectionists
- Open-first Providers
- Plotting the Opportunity
- Final Thoughts
-
Case Study: Nordea’s Journey to PSD2 Compliance, 300 Signups in 72 Hours
- A World Beyond PSD2 Compliance
- Final Thoughts
-
FinTech and APIs: Making the Bank Programmable
- What is FinTech?
- Advantages of Exposing a Bank with an API
- Banks and FinTech Can Play Nice
- Use of APIs: In-Account App Marketplace Concept
- Data Transparency and the Rise of Open Banking
- New Platforms Lead to Unexpected Innovation
- More Advances in the Financial Sector
- Conclusion
-
How Can Consumers Relate To Open Banking?
- Building Context for Consumers
- Open Banking Must Foster Trust With End Users
- Control Matters
- The Open Banking Marketplace
- Final Thoughts: How to Establish Consumer Faith in Open Banking
-
How Banks Are Becoming Uberized
- APIs are Nothing New
- Smartphones: Kindling a Change
- Time to API Up
- Building with Purpose
-
How Does Open Banking Apply to US Banks?
- Regulation in Europe
- Regulation in the US
- The Role of the Market
- Final Thoughts
-
Case Study: From API Doing to API Thinking at ING Bank
- APIs versus Web Services: What’s the Difference?
- API Doing vs API Thinking
- APIs and Customer Journeys
- Why API Doing is Equally Important
- From API Doing to API Thinking
-
Open Banking Amplifies the Need For Definition Driven APIs
- Adjusting Practices With The Shifting API Landscape
- How OpenAPI Specification (OAS) Accelerates API Development
- Supporting OAS Throughout the API Lifecycle
- Final Thought: Drive Open Banking API Strategies with OAS
-
High-Grade API Security For Banks
- Regulatory Compliance Considerations
- Identifying Vital Data
- Potential Vulnerabilities
- API Security Methodologies
- Security is The API Provider’s Responsibility
- Recent Exploits and Breaches
- Conclusion
-
Is OAuth Enough for Financial-Grade API Security?
- Can OAuth Make The Grade?
- Some Tokens Are Unbearer-able
- Away With The PKCEs
- Signed, Sealed, Delivered
- What’s Next For Financial Grade API Security?
-
OpenID Connect: Overview of Financial-grade API (FAPI) Profile
- What is FAPI?
- Adding Resilience: The Read-Only Profile
- Bullet-Proofing: The Read-Write Profile
- Improving OAuth 2.0: JWT-Secured Authorization Codes
- Decoupling Authentication: Client-Initiated Backchannel Authentication
- Final Thoughts
-
Case Study: Growing Internal API Consumption in Danske Bank
- The Path Towards APIs
- Set-and-Forget Performance
- Identifying Setbacks… and Addressing Them!
- The Results
- Summary
-
It Started With PSD2 and Personal Data
- The Status Quo
- Regulatory Impact
- The Open Banking (and Data) Landscape
- Final Thoughts
- Nordic APIs Resources
The Leanpub 45-day 100% Happiness Guarantee
Within 45 days of purchase you can get a 100% refund on any Leanpub purchase, in two clicks.
See full terms
Do Well. Do Good.
Authors have earned$10,628,331writing, publishing and selling on Leanpub, earning 80% royalties while saving up to 25 million pounds of CO2 and up to 46,000 trees.
Learn more about writing on Leanpub
Free Updates. DRM Free.
If you buy a Leanpub book, you get free updates for as long as the author updates the book! Many authors use Leanpub to publish their books in-progress, while they are writing them. All readers get free updates, regardless of when they bought the book or how much they paid (including free).
Most Leanpub books are available in PDF (for computers), EPUB (for phones and tablets) and MOBI (for Kindle). The formats that a book includes are shown at the top right corner of this page.
Finally, Leanpub books don't have any DRM copy-protection nonsense, so you can easily read them on any supported device.
Learn more about Leanpub's ebook formats and where to read them
Top Books
- #1
Jetpack Compose internals
Jorge CastilloJetpack Compose is the future of Android UI. Master how it works internally and become a more efficient developer with it. You'll also find it valuable if you are not an Android dev. This book provides all the details to understand how the Compose compiler & runtime work, and how to create a client library using them.
- #2
Functional Programming Made Easier
Charles ScalfaniA Functional Programming book from beginner to advanced without skipping a single step along the way.
In my 40 years of programming, I've felt that programming books always let me down, especially Functional Programming books. So, I wrote the book I wish I had 5 years ago.
Functional Programming will never be easy, but it can be easier.
- #3
Fifty Quick Ideas to Improve your User Stories
Gojko Adzic and David Evans - #4
Stratospheric
Tom Hombergs, Björn Wilmsmann, and Philip RiecksFrom Zero to Production with Spring Boot and AWS. All you need to know to get a Spring Boot application into production with AWS. No previous AWS knowledge required.
- #5
Technical leadership and the balance with agility
Simon BrownA developer-friendly, practical and pragmatic guide to lightweight software architecture, technical leadership and the balance with agility.
- #6
Thinking with Types
Sandy MaguireThis book aims to be the comprehensive manual for type-level programming. It's about getting you from here to there---from a competent Haskell programmer to one who convinces the compiler to do their work for them.
- #7
A Practical Guide to Testing in DevOps Japanese Edition
Katrina Clokie, Yuya Kazama, and Masanori KawaradaKatrina Clokieによる2017年8月発行の書籍『A Practical Guide to Testing in DevOps』の日本語翻訳版です。実装前や実装中でのテストだけでなく、本番環境でのテストについて、数多くの事例を用いて語られています。
- #8
Continuous Delivery Pipelines
Dave FarleyThis practical handbook provides a step-by-step guide for you to get the best continuous delivery pipeline for your software.
- #9
Developing A Computer Operating System From Scratch
TINU TOMThe first ever Book trying to introduce Operating System Development to Absolute Beginners where the topic starts from Programming In C , Programming In Assembly to Practical OS Development.
This book only uses Simple Methods so that Only Less Topics in Programming In C and Assembly should be covered.
- #10
Composing Software
Eric ElliottAll software design is composition: the act of breaking complex problems down into smaller problems and composing those solutions. Most developers have a limited understanding of compositional techniques. It's time for that to change.
Top Bundles
- #1
CCIE Service Provider Ultimate Study Bundle
2 Books
Piotr Jablonski, Lukasz Bromirski, and Nick Russo have joined forces to deliver the only CCIE Service Provider training resource you'll ever need. This bundle contains a detailed and challenging collection of workbook labs, plus an extensively detailed technical reference guide. All of us have earned the CCIE Service Provider certification... - #2
Software Architecture for Developers: Volumes 1 & 2 - Technical leadership and communication
2 Books
"Software Architecture for Developers" is a practical and pragmatic guide to modern, lightweight software architecture, specifically aimed at developers. You'll learn:The essence of software architecture.Why the software architecture role should include coding, coaching and collaboration.The things that you really need to think about before... - #4
The Python Craftsman
3 Books
The Python Craftsman series comprises The Python Apprentice, The Python Journeyman, and The Python Master. The first book is primarily suitable for for programmers with some experience of programming in another language. If you don't have any experience with programming this book may be a bit daunting. You'll be learning not just a programming... - #5
Retromat eBook Bundle for Agile Retrospectives
2 Books
If you facilitate retrospectives this bundle is for you: "Plans for Retrospectives" helps beginners learn the lay of the land with tried-and-true plans. Once you know your way around, "Run great agile retrospectives" contains all 135+ activities in Retromat for you to mix and match. - #8
9 Books-Bundle: Shut Up and Code!
9 Books
"Shut up and code." Laughter in the audience. The hacker had just plugged in his notebook and started sharing his screen to present his super-smart Python script. "Shut up and code" The letters written in a white literal coding font on black background was the hackers' home screen background mantra. At the time, I was a first-year computer...
