Unlocking the power of open banking APIs: Key marketplace features

You're ready to bring open banking APIs to the community of external fintech developers through an API marketplace. But what happens when developers step inside the marketplace? If the experience is not compelling enough, developers will likely look for the exit sign and go elsewhere for their API needs. 

Here are the key features that unlock the doors to an ideal open banking experience for not only fintech developers but providers, too.

01 An intuitive interface that drives productivity

It should be easy for developers to find and access APIs that resonate with their needs. This gives you the flexibility to categorize APIs and wrap them in documentation and other support tools. That way, developers have a clear business view of an API's implementation and use. 

02 Integrated use of API standards

Creating bespoke open banking APIs is a time-intensive process. Look for prebuilt open banking APIs backed by your region's common open API standards. This enables developers to access fully compliant, documented, and ready-to-implement APIs faster. 

03 Security, identity, and consent

Open banking requires the secure exposure of consumer financial data through APIs. Integrated API security through Amplify Open Banking (including FAPI and CIBA) lays the foundation for secure data exchange. Meanwhile, pre-integrated identity and consent management help keep customers in control of their data. 

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Red ocean, blue ocean: opportunities for open banking APIs
Red ocean, blue ocean: opportunities for open banking APIs

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