Open banking initiatives and PSD2 (Payment Services Directive 2) in the European Union (EU) and European Economic Area (EEA) are meant to foster next-generation experiences for banking and payments customers. Banking and financial services customers ranging from individuals to small businesses and enterprises demand more control over their payments, without increasing risk.
APIs are the engine of open banking and PSD2, controlling how data is shared and used. API programs, particularly for open banking and PSD2, require continuous API health: failed CX due to an API flaw can cost a banking or payments provider millions in lost revenues and opportunity costs – customers will abandon an app or payment option for the next best thing if there is a functional flaw or concern over privacy. API Fortress was built from day one for this new reality. Explore how API Fortress powers continuous API health for banks, financial services, insurance, and other payment services companies.