How the Future of Banking Will Look Like

The current prevalence of digital banking is largely focused on the customer acquisition and customer experience domains. In the future, this will evolve to a more holistic ‘financial well-being’ focus with banks potentially becoming utility players providing an infrastructure that is unburdened from legacy architecture and processes and more dependent on digital technology.

APIs: the new attack vector

The promise of APIs in enabling innovation is unquestionable. Open banking has transformed the traditional banking ecosystem into one that benefits consumers and banks alike. APIs have also opened up a completely new line of business for fraudsters. According to Gartner, ‘By 2022, API abuses will be the most-frequent attack vector resulting in data breaches for enterprise web applications’.

Shiny New Button May Help Visa, Mastercard and AmEx Fight PayPal – Bloomberg» 

Earlier this week Visa Inc. and Mastercard Inc., the world’s largest card networks, told an industry conference they will combine their Visa Checkout and Masterpass payment options into a single button. Spokesmen for American Express Co. and Discover Financial Services said their firms also will join the project. The aim, according to the card networks, is to make online shopping simple, letting people finish with a few clicks — an experience pioneered by PayPal Holdings …