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ss and interact with financial services at its core it s about unlocking data and making it securely available through modern infrastructure rails called apis but the impact goes far beyond banking ob is becoming the key enabler of today s two most dominant business models platform economics embedded finance banks play a critical role in this shift because they hold the data enter 𝗢𝗽𝗲𝗻 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗔𝗿𝗰𝗵𝗶𝘁𝗲𝗰𝘁𝘂𝗿𝗲 this is the invisible technical foundation that allows banks to expose data and services to fintechs and partners here s a simplified breakdown of key components 1 api gateway the secure front door that handles requests and and routes them properly 2 consent identity management ensures only the right parties get access with the customer s permission 3 authentication layer uses secure login methods to confirm the customer s identity 4 developer portal a gateway where third parties discover test and onboard to the bank s apis 5 microservices layer breaks banking functions into modular services for faster flexible delivery 6 core system integration connects modern apis to banks legacy systems without needing to rebuild everything from scratch this isn t just about technology it s about designing trust at scale 𝗛𝗼𝘄 𝗮𝗻 𝗢𝗽𝗲𝗻 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗿𝗲𝗾𝘂𝗲𝘀𝘁 𝘄𝗼𝗿𝗸𝘀 1 a licensed third party provider tpp sends an api request to the bank to access account data or initiate a payment 2 the end user is redirected to the bank s interface to authenticate and provide consent 3 once consent is verified the bank issues a secure access token to the tpp 4 the tpp retrieves only the authorized data or completes the payment transaction 5 all actions are logged for traceability audit security and compliance purposes 𝗪𝗵𝗮𝘁 𝘀 𝗵𝗼𝗹𝗱𝗶𝗻𝗴 𝗯𝗮𝗻𝗸𝘀 𝗯𝗮𝗰𝗸 1 legacy tech many core platforms were never built for external connectivity 2 security compliance pressure exposing apis while meeting regulatory requirements is complex 3 real time readiness open banking requires real time availability and minimal downtime 4 governance and ecosystem management managing third party access and maintaining oversight is operationally demanding banks should avoid treating ob as just a tech upgrade or a compliance checkbox it s a strategic opportunity to modernize infrastructure something they would have to do anyway in the era of ai and real time digital ecosystems not being able to communicate via apis is like owning a smartphone without internet access opinions my own graphic source blanc labs 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐭𝐨 𝐦𝐲 𝐧𝐞𝐰𝐬𝐥𝐞𝐭𝐭𝐞𝐫 https lnkd in dkqhnxdg more no more previous content no more next content 1 575 86 comments like comment share copy linkedin facebook x marcel van oost marcel van oost is an influencer connecting the dots in fintech 333 953 followers 1y report this post 𝙅𝙐𝙎𝙏 𝙄𝙉 epi is in talks with spain s bizum and portugal s sibs about a potential partnership as europe pushes to reduce its reliance on u s tech giants in the payments sector a few weeks ago news broke that the european union wants to reduce its reliance on visa mastercard paypal and alipay according to european central bank president christine lagarde https lnkd in d36darwy visa mastercard paypal and alipay are all controlled by american or chinese companies we should make sure there is a european offer she said in an effort to reduce europe s dependency on american companies in the payments space european payment providers are exploring opportunities for collaboration the european payments initiative epi a consortium of 16 financial institutions from four countries is currently in talks with bizum in spain and sibs in portugal about a potential partnership according to epi ceo martina weimert both sides are fundamentally interested but the technical details are complex weimert told handelsblatt https bit ly 44o7lb0 epi which aims to create a unified european payment system launched its own payment service called wero last year initially wero enables phone to phone payments in germany belgium and france https bit ly 3ro2uc8 its backers include german savings banks cooperative banks and deutsche bank along with institutions from belgium france and the netherlands the move to seek cooperation marks a shift in epi s strategy previously it had mainly focused on recruiting more banks across europe to join its project the urgency for europe to become more independent from u s firms in the payment space has increased due to the recent u s tariff disputes weimert said we must leverage effective payment solutions within europe and partnerships should be part of that strategy bizum which supports real time mobile payments in spain and is already working with banks in portugal and italy to connect national systems also expressed openness to working with epi we are pleased to see that other european solutions like epi are open to collaboration this is the best way to create a pan european instant payment solution that benefits both consumers and merchants the company said both bizum and wero are built on instant payments meaning bank transfers completed within seconds this and more fintech news in my newsletter https lnkd in e tzdwh7 find this helpful 𝗿𝗲𝗽𝗼𝘀𝘁 anything to add about this subject 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 nice story marcel next 𝗹𝗶𝗸𝗲 more no more previous content no more next content 752 45 comments like comment share copy linkedin facebook x zach wilson zach wilson is an influencer founder dataexpert io 532 227 followers 1y report this post building data pipelines has levels to it level 0 understand the basic flow extract transform load etl or elt this is the foundation extract pull data from sources apis dbs files transform clean filter join or enrich the data load store into a warehouse or lake for analysis you re not a data engineer until you ve scheduled a job to pull csvs off an sftp server at 3am level 1 master the tools airflow for orchestration dbt for transformations spark or pyspark for big data snowflake bigquery redshift for warehouses kafka or kinesis for streaming understand when to batch vs stream most companies think they need real time data they usually don t level 2 handle complexity with modular design dags should be atomic idempotent and parameterized use task dependencies and sensors wisely break transformations into layers staging clean marts design for failure recovery if a step fails how do you re run it from scratch or just that part learn how to backfill without breaking the world level 3 data quality and observability add tests for nulls duplicates and business logic use tools like great expectations monte carlo or built in dbt tests track lineage so you know what downstream will break if upstream changes know the difference between a late arriving dimension a broken scd2 and a pipeline silently dropping rows at this level you understand that reliability cleverness level 4 build for scale and maintainability version control your pipeline configs use feature flags to toggle behavior in prod push vs pull architecture decouple compute and storage e g iceberg and delta lake data mesh data contracts streaming joins and cdc are words you throw around because you know how and when to use them what else belongs in the journey to mastering data pipelines more 1 695 69 comments like comment share copy linkedin facebook x victor liew helping malaysians with rm1m rm10m in epf cash shares property build a retirement salary retirement income planning wealth transition managing wealth adviser 6 382 followers 8mo report this post this i believe is happening and the irony is hard to miss new digital banks are chasing the old banking religion of net interest margins just as traditional banks are trying to escape it nim is volatile balance sheet intensive and hostage to rate cycles even large incumbents have learnt this the hard way the response has been predictable migrate towards non interest operating income particularly wealth adjacent activities that generate recurring fees without consuming capital this is where the real money is made and where transparency quietly disappears wealth advisory unit trusts insurance wrappers structured fx dual currency deposits and balance sheet friendly treasury trades all sit under the noii umbrella margins are wide costs are difficult for clients to observe outcomes are rarely benchmarked properly traditional banks understand this architecture well digital banks largely do not the bigger challenge is governance not technology banks do not operate under a fiduciary standard there is no embedded obligation to prioritise client outcomes over revenue extraction even without bad intent there is no internal mechanism that forces balance combine that with constant relationship manager turnover and an effectively endless supply of customers and you create a system that naturally drifts towards fee maximisation this is not a conspiracy it is a design feature digital banks face a further constraint they cannot easily replicate this behaviour without humans noii businesses especially the highly profitable high net worth segment rely on narrative persuasion relationship continuity and selective opacity algorithms struggle with all four a sleek app can replace a branch it cannot replace a revenue motivated adviser explaining why a complex product is appropriate so while digital banks burn capital trying to scale deposits and cards incumbents quietly harvest fee income upstream and downstream of the balance sheet the wealth management implication for clients this matters more than it appears as traditional banks lean harder into fee based income the line between advice and distribution becomes increasingly blurred products are framed as solutions fees are embedded rather than stated performance is discussed selectively without fiduciary alignment the burden of discernment shifts entirely to the client digital banks are not immune to this they simply have not yet worked out how to monetise it at scale more no more previous content no more next content 573 18 comments like comment share copy linkedin facebook x ash kalra product payments leader fintech psp risk ai financial infrastructure global market strategy operator 6 626 followers 1y report this post hsbc spent 150 million over two years to build a fintech app six months later it shut down and this isn t an isolated case rbs launched bó in 2019 shut down in 6 months jpmorgan launched finn in 2018 shut down in 1 year wells fargo launched greenhouse it never even made it to market so why do banks keep failing when they try to build fintech these projects fail for the same reasons first these banks often spend years and millions building the product instead of testing fast zing took two years and over 150 million before it launched there was no mvp no version 1 to get feedback on no pivoting by the time the app was ready competitors had already moved on second they try to copy existing fintechs feature by feature instead of solving real customer problems zing was trying to beat wise and revolut at fx but it didn t offer anything new if a customer already had wise why switch third internal politics and structure get in the way these fintech projects are often not truly independent they re slowed down by compliance checks legacy systems and conflicting priorities fourth acquisition costs explode zing managed to get only 30 000 users in its first 6 months with a customer acquisition cost of around 5 000 each that was a sign that the market didn t really want what was being built finally the bank ends up competing with itself hsbc was launching zing for cross border payments while also announcing a separate partnership with dandelion for real time fx tracking in the end these projects fail because they re built with the wrong mindset unless banks are ready to act like startups test fast ship fast stay lean they ll keep burning money on projects that were doomed before launch so if you re building fintech inside an incumbent take a hard look at your setup are you solving a real problem do you have the freedom to move fast if not maybe it s time to rethink before the next zing more no more previous content no more next content 1 523 135 comments like comment share copy linkedin facebook x erik lidman ceo at aimplan extending power bi and fabric with operational and financial planning budgeting and forecasting 74 585 followers 1y report this post why we think fp a fails we need a bigger budget our tech stack is outdated we don t have enough people leadership doesn t value finance the market moves too fast for our current processes why fp a actually fails processes are reactive instead of proactive data lives in too many disconnected systems everyone becomes a firefighter instead of a strategic advisor communication gap between finance and other departments too much time spent gathering data not enough analyzing it teams rely heavily on manual spreadsheets and tribal knowledge forecasts aren t connected to operational metrics that drive the business the monthly close and reporting cycle is the most critical part of fp a operations and it s where most teams get stuck manual processes consume 70 of available time you won t transform your fp a function overnight but you should start doing this automating data collection standardizing key processes and building bridges with operational teams or you could keep playing excel detective your call more no more previous content no more next content 1 045 53 comments like comment share copy linkedin facebook x hans stegeman hans stegeman is an influencer chief economist triodos bank columnist phd transforming economics for sustainability 78 591 followers 1y report this post 𝐄𝐬𝐬𝐞𝐧𝐭𝐢𝐚𝐥 𝐫𝐞𝐚𝐝𝐢𝐧𝐠 especially for those in finance who think the energy transition is held back by a finance gap there s 𝐧𝐨 shortage of capital and no we re not just one blended finance scheme away from solving the climate crisis in this sharp piece on lara merling exposes the real constraints behind the energy transition and challenges the neoclassical fallacies that dominate economic thinking fallacy 1 that money is a scarce resource like labour or materials fallacy 2 that market prices are accurate reflections of real world scarcities fallacy 3 that central banks are neutral actors outside the real economy the truth the actual bottlenecks are material technological political and institutional lack of skilled labour inadequate supply chains technological limits political resistance dysfunctional governance finance can play a role but it s not the limiting factor in fact focusing on finance as the main barrier distracts from where the real work needs to happen merling s piece is a must read for anyone working at the intersection of macro climate and public investment https lnkd in e6p n2tw let s stop treating finance as the scapegoat and start addressing the actual constraints ️ sustainablefinance climate adrienne buller more no more previous content no more next content 237 23 comments like comment share 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