How to Build a Better Production-Ready Banking API Portal
Mercator Advisory Group's latest report ranks 12 API management platforms based on three critical operational areas that have caused delays in the rollout of the PSD2 mandated APIs in Europe. For those planning an API portal deployment, this report identifies the cause of the delays in the EU and how to avoid them. It also reviews how effectively 12 different API management platforms support three different critical implementation areas that are the basis of a robust API Portal.
BOSTON, Oct. 5, 2021 /PRNewswire-PRWeb/ -- Mercator Advisory Group's latest research report, How to Build a Production-Ready Banking API Portal and Avoid EU Mistakes, identifies the key issues that have delayed the deployment of the PSD2 Open Banking mandated API sets and compiles performance data that highlights the challenges. The report then breaks the challenges down into issues related to technologies versus issues related to standards implementation. Finally, the report identifies the three core functional areas that establish a robust API portal and then rates 12 suppliers against key criteria that make up the three functional areas. The suppliers considered are: Axway, Cloud Elements, FIS Global, Fiserv, IBM, Informatica, Jitterbit, Microsoft, MuleSoft, Software AG, TIBCO, and Token.io.
This report provides all the information required to understand why Europe has had so much trouble implementing the PSD2 mandate and how to evaluate a financial institution's existing IT infrastructure to determine the API management platform that will fit well into existing infrastructure without duplicating key functions already operating effectively.
"Financial institutions have already made significant investments in data management and data sharing technologies, and most API management solutions duplicate some aspects of that infrastructure," comments Tim Sloane, Research Director at Mercator Advisory Group, and the author of the report. "Understanding what services are already available enables the selection of an API management platform that utilizes the technology you already have and adds all of the critical functions you need."
Highlights of the report include:
- A review of the technology, performance, and standards-related issues that have delayed the deployment of Open Banking in Europe.
- A table that labels key issues as belonging to either standards-related problems or technology-related problems.
- A review of key delivery models, from on-premise to cloud and aggregation models.
- An architectural overview of key functions, from internal host integration and data management to the core API management function and the API connectors that are available to connect to external systems.
- A review of the 12 suppliers against different criteria in the three functional areas described above.
This research report has 28 pages and 6 exhibits.
Companies and other organizations mentioned in this report include:
AIIA, Axway, Cloud Elements, Early Warning, Finicity, FIS Global, Fiserv, Fujitsu, IBM, Informatica, Jitterbit, LexiNexis, Mastercard, Microsoft, MuleSoft, NACHA, NoName Security, OFX, Oracle, Phixius, Plaid, Postman, Salt, SAP, Slack, Software AG, The Financial Services Information Sharing and Analysis Center (FS-ISAC), TIBCO, Tink, Token.io.
Members of Mercator Advisory Group's Emerging Technologies Advisory Service have access to this report. Members of the Emerging Technologies service also have access to the service's upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
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About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.
Media Contact
Karen Yetter, Mercator Advisory Group, 781-419-1700, [email protected]
SOURCE Mercator Advisory Group
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