Open Banking

Open banking is revolutionizing how people across the globe spend their money. This was especially true for African Bank, as they embarked on their journey to deliver an omnichannel banking experience for their customers using microservices.

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GROWING THE BUSINESS THROUGH OPEN, SECURE APIs

Open banking is a major source of innovation in the banking industry. It enables better user experiences by improving traditional services such as more helpful tools, streamlined lending, automated accounting, and new ways to payment.

The use of open APIs enable third-party developers to build foundational technologies for applications and web sites that provide greater financial transparency options, ranging from open data to private data, for the financial institution's account holders.

See how F5 and NGINX enables Infrastructure & Operations and DevOps teams to define, publish, secure, monitor, and analyze APIs, while keeping developers in control of API design for open banking platforms.

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The potential benefits of open banking include improved customer experience, new revenue streams, and a sustainable service model for underserved markets.

Data sharing and open banking, McKinsey & Company | September 2017

SECURING THE GROWTH OF OPEN API

Open API is the future. The security of customers’ data is now as important as the security of your applications.

The use of APIs is vital to organizations exploring a fast and smart approach to establish a digital platform. Finding its place in fast-track application development and deployment process like DevOps, institutions are exposed to greater risks. A holistic security approach comprising of encryption, identity, content validation, and infrastructure security is needed

Access

Adopting the API model will give third parties like FinTech companies access to the assets of the financial institution.

Security

Each request needs to be enveloped on holistic and frictionless security, which besides authentication and authorization, must also be protected for access and data security.

Mobile

Digital access and mobile access through myriad smart devices are increasing rapidly, in tandem with rapid release of applications and services.

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What Is API Management?

Comprehensive API management is essential to the rapid adoption and continuing success of your APIs. Learn key API concepts and explore the relationship of API management to API gateways.

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Protect your AWS API Gateway with F5 BIG-IP WAF

Learn how to deploy a basic WAF policy to protect your API Gateway, and expand with more security services.

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Bolster your API security on AWS with New Managed Rules for AWS WAF

Adding F5’s Managed Rules for API Protection is a quick and easy way to enhance your API security posture without any security expertise or adopting an advanced WAF solution.