In Europe, all banks that do local business are required under new European regulations to introduce payment transactions and account information processing as part of the Second Payments Services Directive (known as PSD2). In addition, globally, banks are looking to APIs to gain a strategic advantage with the ability to create new products and services faster, onboard partners and work collaboratively in new markets, and reduce inefficiencies and duplication.
While these are common drivers for all banks, most banks in Europe have their own contexts and histories. So when they are implementing an API strategy across the organization, they must be able to adapt technologies and business processes to tap into legacy systems, align with internal cultures, and maintain the unique characteristics that have empowered their market leadership for so long.
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