Managing regulation
as part of the banking stack
Across both UK and European jurisdictions, and around the world,
managing regulatory compliance appears to be disconnected from
open API programs.
No 30.6%
Yes 69.4%
API team directly involved
in regulatory adherence (N=61)
Amongst banking staff responding
to our survey, 31% of respondents
were working in API teams that
did not have direct involvement in
regulatory compliance. Close to one
third (28%) were not able to identify
the internal team responsible for
regulatory compliance.
Team member response for
ensuring APIs comply to
regulation (N=61)
Compliance was being managed
by members of the C-suite (CEO,
COO, CSO, etc.), by 23% of survey
respondents, 16% by a dedicated
compliance team, and 18% from
product ownership and management
teams. In a small number of cases,
compliance was recognized as
a cross-cutting concern (5%) or
managed by the technical teams
(5% cited either architecture teams
or developers as the compliance
manager). Disturbingly, 3% said "no
one" manages regulatory adherence
at their institution.
No one 3.3%
27.9% Don't know
23% C-Level
Multiple teams 4.9%
16.4%
Compliance team
Architecture group 4.9%
18%
Business/Product Lead
19
managIng RegulaTIOn
