Central Banking

Swift calls for standard API methodology

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Payment services provider Swift says an open banking ecosystem will only be successful if financial standard-setters formulate a “business standardisation methodology” for the underlying interface technology.

“Regulators around the world have identified the need for interoperability among financial institutions as they move towards a more open banking model,” says Swift in a statement published on October 16.

Application programming interfaces (APIs) are only just starting to permeate

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