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TECH BUYER Aug 2019 - IDC Perspective - Doc # AP45357219

The Race to Open Banking Platforms: 9 API Management Platform Solution Providers in Asia/Pacific Financial Services

By: Michael AranetaAssociate Vice President, IDC Financial Insights


This IDC Perspective profiles nine application programming interface (API) management solution providers, and their relevance to the open banking strategic roadmaps of Asia/Pacific financial institutions. The profiles focus on technical, functional, security, and API governance attributes of each solution; highlighting these create a unique proposition in delivering a "platform" for open banking. The profiles indicate that the industry should think about API management "platforms" that go beyond gateways, and developer portals, and simple life-cycle management associated with traditional API management.

"As open banking accelerates, the challenge of managing multitudes of open APIs, third parties, and open API interactions and transactions, will become all too tedious. The API management solution of choice will need to tick many boxes — not only to help banks be good at developing and deploying APIs, but also to help them monitor and control APIs, while ensuring standards of security, reliability, usability, performance, and regulatory compliance," says Michael Araneta, AVP, IDC Financial Insights Asia/Pacific.



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