Celent highlights Fidor Group's innovative use of APIs in banking

Published on 03. May 2018

Fidor has been recognised for its innovative and differentiating customer experience, as one of the pioneers in the use of open APIs in banking.

This is according to a new report released today by Celent entitled “APIs in Banking: Unlocking Business Value with Banking as a Platform”, written by Patricia Hines, CTP. Celent previously named Fidor Bank as “Model Bank of the Year 2015”.

The report focuses on how APIs are critical to the enablement of technology in banking, detailing four specific use case areas: application integration, banking as a platform, innovation, and client connectivity. It also identifies different primary target audiences for each of the four API approaches:

  • APIs for Integration: Enterprise architects and developers
  • APIs for Banking as a Platform: Digital neobanks
  • APIs for Innovation: Fintechs
  • APIs for Connectivity: Bank customers

Patricia Hines CTP, Senior Analyst of Corporate Banking at Celent wrote in conclusion: “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. Fidor makes it simple for any API-enabled organization to connect to its platform, expand, and be future ready. Its ecosystem evolves with more and more partnerships, creating international communities with opportunities at a global level.”

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