Knowledge Database
How account aggregators are changing access to financial data
Today, our financial data is scattered across lots of banks, apps, and platforms – keeping track of it all can be tough. Account aggregators help by bringing information from different places together, so users can see everything in one place and stay in control of...
Modern Financial Data Analysis with API-Based Data
Successful economic activity has always depended on understanding risks and opportunities. In earlier times, merchants carefully assessed the reliability of their partners and the safety of their trade routes — because only those who acted with foresight would...
Credit Risk Management: The Foundation of Sound Lending Decisions
In an era where economic uncertainties, volatile markets and geopolitical tensions test the financial sector daily, prudent credit risk management is more important than ever. Banks and businesses alike face the challenge of identifying risks early, assessing them...
What Will Change with PSD3 – Differences and New Requirements Compared to PSD2
Many companies still feel a false sense of security: “We’ve implemented PSD2, so we’re prepared.” But beware! PSD3 is not merely the next logical step after PSD2 – it represents a fundamental shift in the landscape of Open Banking. While PSD2 primarily opened the...
Digital Identity Verification: How KYC Processes Are Changing Through Open Banking
We know many ways to prove our identity in the analogue world. In addition to the “classics” such as a passport and national identity card, it is sometimes possible to identify oneself using a driving licence, a certificate of registration, a birth certificate or an...
Crypto & Open Banking: How Banks Deal with Blockchain
The digital transformation of the financial sector is progressing rapidly, presenting banks with both new challenges and opportunities. Two developments are moving increasingly into focus: Open Banking and blockchain technology. While Open Banking is aimed at...
Embedded Payments: How does it work and who benefits?
In a world where speed and convenience determine the success of digital offerings, customers increasingly expect seamless and instantly available payment options. Businesses are responding by no longer outsourcing the payment process, but instead integrating it...
How financial data is used to prevent fraud
Financial data is increasingly being used to detect and prevent fraud. Machine learning, pattern recognition and network analysis enable suspicious activities to be identified at an early stage. Open banking and real-time access to transactions thus enable banks and...
Know Your Customer (KYC): Definition, Challenges and Opportunities
In the past—when business was done with a handshake and physical presence—there was no doubt about who you were dealing with. Contracts were signed in person, whether at the marketplace, in the office, or face-to-face at the bank. In today’s digital era, however,...
What is the Difference Between Open Banking and Open Finance?
Open Banking and Open Finance are central concepts in the digital financial world. Although often used interchangeably, they differ in scope and areas of application. Both concepts are based on the idea of securely exchanging financial data between service providers...
What are Instant Payments?
Instant Payments, also known as real-time bank transfers, allow payments to be processed around the clock in real time — funds are available to the recipient within seconds. This sets new standards for speed and customer expectations in payments. For banks and payment...
What is Open Banking?
Open Banking refers to the standardised and secure provision of account information and payment services via APIs, whereby banks grant authorised third-party providers access to customer data - always on the basis of user consent. In the EU, the PSD2 directive forms...
API Monetization in Banking
King Midas became a legend because everything he touched turned to gold. What ended as a curse in mythology is a promise in the digital world: those who strategically leverage their data and interfaces can turn pure infrastructure into real economic value. APIs – once...
A Comparison: Cloud Banking vs. On-Premise Solutions
Digitalization and ever-increasing regulatory requirements are increasingly presenting banks with strategic decisions: How should existing IT infrastructure be designed going forward? The options are traditional on-premise solutions on private hardware or modern...
SaaS in the financial sector
The digital revolution that has long since taken place in other industries is now also making its way into the banking sector. Instead of outdated software and complicated IT infrastructures, banks are now relying on a revolutionary solution: Software as a Service...
Data Security in Banking APIs
Open Banking has laid the foundation for numerous customer-centric innovations in the financial sector. The key lies in accessing account and transaction data—information that was once almost exclusively held by banks, but must now be made available to third parties....
Machine Learning and Artificial Intelligence in the Financial Industry
Robots already mow our lawns and vacuum our floors—will AI soon take over our thinking too? We're still a long way from that, even though there are already many areas where AI supports us today. Especially in the financial sector, there are numerous use cases where...
Multibanking: How API Connectivity Connects Different Bank Accounts
"One for all, all for one": The first part of this motto from the musketeers in the swashbuckling films can – with a slight twist – also apply to modern banking customers: "One app for all accounts." This is exactly what Multibanking is, an application that many users...
Banking API Interface Explained
They are the technical foundation for every Open Banking or Open Finance application: banking APIs. These are the technological interfaces that enable banks and financial institutions to make their core functions, such as payment processing, account management, or...
What is PSD2?
PSD2 is a European directive that uniformly regulates payment services and payment service providers across the European Union (EU). The directive aims to increase competition across Europe and also allows non-banks, such as FinTechs, to participate in the payment...
What is Digital Lending?
Digital lending is similar to the process of traditional lending, except that the customer does not need to visit a bank branch or meet with a bank employee: The entire lending process is handled online. Digital Lending – A Definition Online financing – including...
Verification of Payee: A New Era of Payment Security for Banks
Goods for money - this simple exchange has been the basis of every business transaction for centuries. And people have always wanted to know who they entrust their money to. For the digital version of commerce and payment, there is now a method to obtain information...
Account Switching Service
Bank hopping is in: lifelong loyalty to one's home bank is now more of an exception than the rule. When switching from one bank to another, there are now digital moving assistants that significantly ease the transfer of all transactions: so-called account switching...