APIs could help curb fintech operational risk – Sarb deputy

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Elske Photography

South Africa’s central bank is urging incumbent financial firms to work with fintech companies to develop open application programming interfaces (APIs), according to a senior official.

Speaking at Singapore’s Fintech Festival, deputy governor Rashad Cassim said access to data had become a key competitive driver in the financial services market. Access to structured and unstructured data could give firms a “significant” competitive edge.

“Access to refined data is a key issue that regulatory

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