Issue link: https://go.axway.com/i/1321495
20 Open Banking APIs State of the Market Report 2020 USE CASES ONBOARDING GROWTH: Around 20 new API customers each month USER FLOW: Commence with sandbox testing and when the partner is confident with their integration proof of concept, the bank validates and tests the integration within an agreed 14 days service level agreement. TIMING: A fast API integration by a customer would take 2 days for their testing in the sandbox, and 6-7 days for the bank to provide credentials for production uses. A LARGE ASIA PACIFIC BANK WITH USD2.5 BILLION ANNUAL REVENUE, AND OVER 9 MILLION GLOBAL CUSTOMERS, HAS PUBLISHED A CATALOGUE OF OVER 100 OPEN APIS 5 . VALUE GENERATED Direct revenue from customers making API calls monthly to link functionality (such as bank account payment transfers) directly into their internal processes (such as payroll fund disbursements) New account generation from partners using APIs to extend capabilities of their network. For example, a large e-commerce company with 1,000+ merchants uses the bank's payment APIs, which in turn require the network of merchants to each open a business account with the bank in order to send and receive speedy payments, thus generating 1,000+ new bank accounts through this one partnership. CONSUMERS & PARTNERS ALL SIZES: All types of clients including mining companies, telecommunications, large ecommerce vendors, but also medium sized companies for billing systems, and smaller ecommerce merchants. GOVERNMENT PARTNERSHIPS: The bank is also able to utilize their APIs to enable government fund distribution. SECURITY The Axway API solutions were tested and endorsed by the bank's internal security team. API architects found the management service provider's tools secured the flow and traffic of API throughput. Customers found the process of authentication and authorisation very helpful. MONETIZATION Developer pays: This bank is able to monetize their by charging for transaction-based API calls at $0.02/API call Customers billed monthly for API calls made BANK EXAMPLE 4: ASIA PACIFIC PRODUCT DEVELOPMENT: Used by some partners to create new products, especially in: • Peer-to-peer lending • Securities investment and trading. WORKFLOW: 90% of API usage is by the bank's business customers extending bank capabilities to their internal systems, including: • Balance inquiry • Funds disbursement • Payroll • Payment transfer