Fiserv has streamlined access to its core banking APIs, enabling third-party developers to collaborate and innovate seamlessly.
This development is made possible through Banking Hub, a dedicated platform within Fiserv’s Developer Studio, designed to facilitate collaboration among over 500 developers from fintechs, payfacs, merchants, major brands, and system integrators. The goal is to co-develop unique use cases that enhance the user experience and drive innovation within the industry.
Fiserv’s move to streamline access to its core banking APIs is driven by the need to accelerate the development and deployment of next-generation banking solutions. The financial landscape is evolving rapidly, and this initiative aims to make it faster and easier for financial institutions, fintechs, and merchants to collaborate and launch initiatives that improve customer relationships and expand revenue opportunities.
Fiserv, a Fortune 500 company, is dedicated to moving money and information to transform the world. As a global leader in payments and financial technology, the company provides a wide range of services, including account processing, digital banking solutions, card issuer processing, network services, payments, e-commerce, and more. Their commitment to innovation and excellence has made them one of the Fortune World’s Most Admired Companies.
Banking Hub, the newly introduced platform, accelerates and streamlines the development of FinTech solutions. It provides a space for development teams to collaborate, manage projects, and explore Fiserv’s core banking APIs.
This allows the creation of innovative banking-as-a-service (BaaS) solutions, enabling the launch of new digital experiences and expanding access to third-party fintech solutions for financial institutions.
Fiserv has designed Banking Hub workspaces to provide a self-service experience for developers. With comprehensive documentation, code samples, and videos, developers can quickly build and validate proof-of-concept solutions, giving them an advantage in a fast-moving market.
Trial accounts are available at no cost, and developers have the option to upgrade to a dedicated workspace. Fiserv has also made development environments available for several core platforms, including Finxact, Premier, Signature, and DNA (available in 2024).
These workspaces empower financial institutions to address the challenges of expanding customer relationships, accelerating speed to market, and appealing to younger generations.
Niranjan Ramaswamy, vice president of Open Finance & Banking Hub at Fiserv, said, “Financial institutions are pressed to grow their portfolio through tailored services, accelerate speed to market and appeal to younger generations. Pre-integrated fintech solutions can help address these challenges by allowing financial institutions to cost effectively address targeted strategies and growth opportunities. With compelling new capabilities in gig economy banking and small and mid-size business lending, for example, financial institutions can expand customer relationships while growing deposits.”
Ryan Canin, CEO of DocFox, said ,“As a FinTech founder, I’m impressed with the way Fiserv continues to evolve their business to embrace collaboration that drives the financial services industry forward. By streamlining the way FinTechs like DocFox connect with their solutions, Fiserv is creating opportunities for consumers and small businesses to access new experiences and innovative capabilities through their financial institutions.”
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global